Claims
The Reinsurance Association of America is calling on the U.S. government to encourage private-sector insurers to compete with the National Flood Insurance Program, which is scheduled to expire Sept. 30. NFIP was created in 1968. A property cannot qualify for NFIP coverage unless it is in a community that has joined the NFIP and agrees […]
By Canadian Underwriter | June 1, 2017
4 min read
Nearly 6.9 million homes along the Atlantic and Gulf coasts in the United States are at potential risk of damage from hurricane storm surge inundation, according to CoreLogic’s 2017 Storm Surge Report. On Thursday, the global property information, analytics and data-enabled solutions provider released the report, saying that the total reconstruction cost value (RCV) of […]
3 min read
VANCOUVER – Residents in several areas of British Columbia are bracing for severe thunderstorms as another round of wicked weather bears down on flood-weary regions. Environment Canada has issued severe thunderstorm watches for areas including the Shuswap and Okanagan east to the Alberta boundary, and the Cariboo, Prince George and Fort Nelson regions of central […]
By The Canadian Press | May 31, 2017
2 min read
TORONTO – As the U.S. flirts with fleeing the Paris climate-change accord, Canada is aligning itself with the world’s other two largest economies to take a global leadership role on the effort to limit greenhouse gas emissions. Environment Minister Catherine McKenna would only say Wednesday that Canada remains committed to the Paris Accord, refusing to […]
A gap in understanding how best to mitigate and communicate risks around the Internet of Things (IoT) persists despite organizations reporting high concern about related security, notes a new report from Ponemon Institute and Shared Assessments Program. Released Wednesday, The Internet of Things (IoT): A New Era of Third Party Risk was conducted by independent […]
By Canadian Underwriter | May 31, 2017
KELOWNA, B.C. – Officials with the City of Kelowna say gusty winds are the latest threat that could add to flooding woes in the Central Okanagan. City spokesman Tom Wilson says winds of up to 25 kilometres per hour are forecast to continue into Wednesday. Winds have the potential to whip up waves or cause […]
By The Canadian Press | May 30, 2017
1 min read
Just days after the National Oceanic and Atmospheric Administration’s Climate Prediction Center suggested an above-normal hurricane season this year, Aon Benfield has issued its May forecast for the 2017 Atlantic season. Professor Mark Saunders and Dr. Adam Lea of Tropical Storm Risk – part of Aon Benfield Research’s academic and industry collaboration – are now […]
By Canadian Underwriter | May 30, 2017
United Kingdom insurer Aviva plc has reported a 9.5% increase in the number of fraudulent claims it declined in 2016, “fuelled by increases in fraud detection across motor bodily injury, household and liability claims.” Aviva said in a press release on Monday that it detected 85 million pounds of insurance fraud last year, totalling 232,000 […]
Higher levels of Internet connectivity and inadequate enterprise-wide security are expected to pave the way for criminal data breaches costing businesses around the world about $8 trillion over the next five years, suggests U.K.-based Juniper Research. Research released Tuesday indicates that 2.8 billion customer data records will be stolen over the course of 2017. And […]
The Transportation Safety Board of Canada is reiterating its call for railways to ship flammable liquids in “more robust tank cars” after an accident near Edmonton that resulted in the spill of more than 80,000 litres of flammable styrene monomer. TSB released Friday an investigation report into the accident, which occurred Dec. 8. 2015 after […]
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