Claims
THE PAS, Man. – Rising ice and flood waters have forced hundreds of people from their homes in Manitoba. Jason Small of the Canadian Red Cross says 107 people from the Opaskwayak Cree Nation are being temporarily housed in hotels in The Pas about 500 kilometres northwest of Winnipeg. He says another 325 people were […]
By The Canadian Press | April 17, 2017
1 min read
The province of Ontario has launched a global climate change challenge, urging local and international companies to develop the “next generation of transformative clean technologies” to help combat the phenomenon. The provincial Ministry of Research, Innovation and Science said in a press release last week that the Solutions 2030 Challenge encourages companies to develop breakthrough […]
By Canadian Underwriter | April 17, 2017
2 min read
The Government of Alberta has announced it is providing $15 million a year for its FireSmart program, up from $3.8 million last year, to help communities boost their wildfire protection activities. FireSmart uses preventative measures to reduce wildfire threat to Albertans and their communities, while balancing the benefits of wildfire on the landscape, said background […]
An ice jam caused minor flooding on a residential street in the New Brunswick community of Middle River, the province’s Emergency Measures Organization (EMO) reported on Sunday. However, water levels have subsided after some residents were cut off from their houses on Saturday when approximately 30 centimetres of water pooled in Middle River, the Canadian […]
Swiss Re currently estimates its claims burden from tropical cyclone Debbie in Australia at about US$350 million, net of retrocession and before tax, while the total insured market losses associated with the event is estimated at around US$1.3 billion. The current expectation from Swiss Re, one of the lead reinsurers in this market, is that […]
By Canadian Underwriter | April 13, 2017
The Government of Alberta announced on Wednesday that it is investing about $13.4 million to help the City of Calgary boost its flood readiness. Six provincial grants are part of $63 million earmarked in Budget 2017 to help Alberta communities and organizations adapt to severe weather events and a changing climate, Alberta Environment and Parks said […]
By Canadian Underwriter | April 12, 2017
Sponsors completed one catastrophe bond with coverage for Canada in the first quarter of 2017 (Galilei Re), according to Property Claim Services’ (PCS) first-quarter cat bond report released on Wednesday. As it was a large transaction, capital raised by cat bonds that included cover for Canada fell only slightly year-over-year from $600 million in the […]
4 min read
The Insurance Council of Australia (ICA) cited the Canadian government’s budget commitment to create a Disaster Mitigation and Adaptation Fund in a recommendation to its own federal government to treat the construction of mitigation infrastructure to protect flood-prone towns as nation-building projects. Speaking Wednesday before the Senate Economic References Committee Inquiry into Australia’s General Insurance […]
3 min read
PERILS AG has disclosed its second loss estimate of 234 million euros for extratropical cyclone Egon, which affected France and Germany on Jan. 12 and 13 of this year. The cold front associated with Egon resulted in heavy rain and snowfall, PERILS explained in a press release on Wednesday. The revised estimate of the property […]
OSO, Wash. – A slow-moving landslide near the site of a Washington state mudslide that wiped out a neighbourhood and killed 43 people in 2014 has prompted officials to close a state highway as a precaution and recommend evacuations for a handful of residents, officials said. The area of the slide near the tiny community […]
By Jason Contant | April 11, 2017
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