Claims
The Allstate Corp. announced July 20 it estimates its catastrophe losses for the three months ending June 30 will be $993 million, pre-tax, of which $310 million is from 17 events in June alone. Northbrook, Ill.-based Allstate reported in August, 2016 that its catastrophe losses for Q2 2016 were $961 million. All figures are in […]
By Canadian Underwriter | July 24, 2017
2 min read
The number of aviation accidents reported to the Transportation Safety Board of Canada during the year ending March 31 was nearly 20% lower than the 10-year average, but still “not enough has been done” to reduce the risk of collisions on runways involving aircraft, TSB said Thursday in its annual report to Parliament. TSB, a […]
By Canadian Underwriter | July 21, 2017
3 min read
KOS, Greece – A powerful earthquake shook the Greek island of Kos early Friday morning, damaging several buildings and the main port, killing at least two people and causing more than 120 injuries, authorities said. The 6.5-magnitude quake rattled Turkey’s Aegean coast as well, but Kos was nearest to the epicenter and appeared to be […]
PENTICTON, B.C. – Residents of a rural area on the outskirts of Penticton, B.C., on Thursday joined the more than 45,000 people in British Columbia who have fled their homes due to fast-moving fires. The blaze broke out around 9 a.m. in the West Bench suburb and first responders swiftly conducted evacuations of homes threatened […]
By The Canadian Press | July 20, 2017
VICTORIA – British Columbia’s new government is extending the state of emergency for two more weeks as wildfires sweeping across the province’s Interior show no signs of slowing. Premier John Horgan said his government’s first priority is to support the more than 45,000 people displaced by the fires, which have so far torched more than […]
By The Canadian Press | July 19, 2017
The “glut of reinsurance capital and interest from capital markets” could help the United States government reform its flood insurance subsidy program by making the heavily-indebted National Flood Insurance Program a “much smaller insurer of last-resort,” Artemis.bm suggested Wednesday on its blog site. NFIP, which was started in 1968, expires Sept. 30. Both houses of […]
By Canadian Underwriter | July 19, 2017
Canada’s ruling Liberals want to make it an offence for vehicle operators to have more than two nanograms for milliliter of tetrahydrocannabinol (THC) in their blood, but two lobby groups suggested Wednesday it should be an offence, in some circumstances, to have any detectable level of illegal drugs in the blood, saliva or breath. With […]
4 min read
A recent Supreme Court of Canada ruling, upholding an oppression remedy award of more than $600,000 against corporate directors, provides “better-defined boundaries for personal liability of directors,” a litigation lawyer wrote Monday. In a ruling released July 13, Canada’s highest court dismissed an appeal by Andrus Wilson of a Quebec Court of Appeal ruling. Ramzi […]
By Canadian Underwriter | July 18, 2017
Four of the five costliest natural catastrophes, measured by insured losses, during the first half of this year, occurred in the United States, while four of the five deadliest events occurred in Asia, Munich Re announced. Munich Re released Tuesday a report from its NatCatSERVICE database on natural catastrophe activity and losses for the first […]
KAMLOOPS, B.C. – A British Columbia official says getting people to safety as fast-Moving wildfires approached was only half the battle _ the other half will be returning them home. Al Richmond, chairman of the Cariboo Regional District in B.C.’s central Interior, says the district has hit logistical snags as it prepares to allow the […]
By The Canadian Press | July 18, 2017
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