Claims
PENTICTON, B.C. – Fire crews appear to have the upper hand on a wildfire that roared to life Tuesday in the south Okanagan community of Kaleden, B.C. BC Wildfire Service spokeswoman Justine Hunse says the fire that has scorched 6.5 hectares is still classified as uncontained, but crews have boxed in the blaze with a […]
By Jason Contant | July 5, 2017
1 min read
The Insurance Bureau of Canada (IBC) is congratulating the City of Toronto “for its ongoing commitment to emergency preparedness” with the recent establishment of a chief resilience officer for the city. Last month, Tory announced that the position will be filled by Elliott Cappell, an “internationally-renowned expert on climate change strategy and resiliency principles,” the […]
By Canadian Underwriter | July 5, 2017
2 min read
Sponsors completed six catastrophe bonds with coverage for Canada in the first half of 2017, raising $2.7 billion through transactions that included Canada, Property Claim Services (PCS) said in its PCS H1 2017 Catastrophe Bond Report. The first cat bond, coming in the first quarter of the year, was the second of two Galilei Re […]
3 min read
The 3.7% increase in global insurance premiums on the non-life side in 2016 was driven by expansion among the emerging countries and exceptional performance in China, although growth weakened in advanced economies, Swiss Re Institute suggests in its latest sigma report. Released Wednesday, the report shows global direct premiums written (DPW) were up 3.1% in […]
4 min read
The water level of Lake Ontario at Toronto will not drop to its average level until the end of the year and frost this winter could “further exacerbate” infrastructure damage, though the exact cost of infrastructure damage has yet to be determined because some of that infrastructure is still under water, Toronto city staff said […]
By Canadian Underwriter | July 4, 2017
CEP Forensic Inc. and Sintra Engineering Inc., eastern and western Canadian forensic engineering providers, have announced a merger to create what they are calling the country’s largest forensic engineering firm. The newly created entity, CEP-Sintra, will have close to one hundred employees from coast to coast and will operate in both official languages, said a […]
A bill of lading is the first document that everyone looks for whenever there is any cargo claim. That said, insurers are advised not to rely solely on such documents. Appropriate investigation of all aspects discussed by the various contracting parties, whether written or oral, is also critically important.
By Shubham Gupta, Loss Adjuster, Charles Taylor Adjusting | July 4, 2017
6 min read
PLAINFIELD, Ill. – The effort to clean up 40,000 gallons of crude oil continues south of Chicago where a freight train derailed last week. Canadian National Railway spokesman Patrick Waldron said Monday the company is investigating the cause and circumstances of the derailment in Plainfield, Illinois. Federal Railroad Administration officials say the agency is also […]
By Jason Contant | July 4, 2017
The Task Force on Climate-related Financial Disclosures (TFCD) has recommended that organizations provide such disclosures in their mainstream (public) annual financial filings, among other recommendations. TFCD released on June 29 its final report, saying that the task force “believes climate-related issues are or could be material for many organizations, and its recommendations should be useful […]
Investments in flood mitigation will help make Toronto’s under-used Port Lands safer for mixed-use development, Insurance Bureau of Canada suggested Thursday in reaction to a June 28 announcement that the federal and provincial governments will contribute $1.185-billion towards a project that is intended to, among other things, raise the grade in the area by an […]
By Canadian Underwriter | June 30, 2017
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