Claims
Reinsurers can expect huge losses from man-made and natural catastrophes, open-ended liabilities like asbestos and terrorism, and developing creative technology solutions to become increasingly important in future, Novarica notes in a new report. The new challenges are in the wake of years of the reinsurance market being made competitive by soft market conditions followed by […]
By Canadian Underwriter | January 31, 2017
2 min read
Resource underperformance has surpassed mechanical breakdown and component damage as the major obstacle to achieving bankable wind energy projects, GCube Underwriting Ltd. notes in a report estimating the untapped asset values of wind energy stakeholders around the world at US$56 billion. The estimate is the result of failure to efficiently transfer weather risk, U.S.-based renewable […]
3 min read
The Institute for Catastrophic Loss Reduction (ICLR) will be hosting its next Friday Forum webinar on Canadian wildland fire interface maps on Feb. 17 at 10 a.m. to 11:30 am EST. The webinar, titled Canadian wildland fire interface maps: Tools for wildland fire protection of our communities, industries, and infrastructure, will feature Lynn Johnston, a […]
By Canadian Underwriter | January 30, 2017
Use of firewall management tools has resulted in fewer breaches, increased productivity and the ability to respond to a breach in less than an hour, suggests a commissioned report released last week by U.S.-based FireMon. Automate Zero Trust Policy and Enforcement, an independent report prepared by Forrester Consulting, found that 59% of polled organizations that […]
SHIPPAGAN, N.B. – New Brunswick’s premier says the military is sending between 100 and 150 troops to help with recovery efforts in the areas that have been hardest hit by last week’s ice storm. Brian Gallant told a news conference in Shippagan Sunday that soldiers are being deployed over the next 24 hours to help […]
By Jason Contant | January 30, 2017
Future disability benefits under the Canada Pension Plan are not deductible from auto insurers’ payments under the Nova Scotia family protection endorsement, the Supreme Court of Canada found in a ruling released Friday. Canada’s highest court restored a 2013 ruling, by the Supreme Court of Nova Scotia, in favour of Andrew Sabean, who was injured […]
By Canadian Underwriter | January 27, 2017
4 min read
The series of earthquakes that hit central Italy in late October last year has prompted a property insurance market loss estimate of 125 million euros, PERILS AG reports. The quakes had on impact on the regions of Lazio, Marche and Umbria, notes a statement Thursday from PERILS, an independent, Zurich-based organization that provides data relevant […]
STOUGHTON, Sask. – The Saskatchewan government says it has confirmed which pipeline leaked 200,000 litres of crude oil on First Nation farmland. It says it belongs to Calgary-based Tundra Energy Marketing Ltd. The company has been leading cleanup of the spill near Stoughton in southeastern Saskatchewan. The government says so far 174,000 litres of oil […]
By The Canadian Press | January 27, 2017
FREDERICTON – More than 80,000 customers were still without power in many parts of New Brunswick early Thursday after a blustery mix of freezing rain, ice pellets and strong winds moved through the Maritimes. NB Power said at the height of the storm, more than 130,000 customers were affected Wednesday. Much of the outages Thursday […]
By The Canadian Press | January 26, 2017
Natural hazard activity in the United States in 2016 was “relatively average or below average,” with the exception of flood and wind, both of which saw above-average activity, due in large part to Hurricane Matthew, CoreLogic, Inc. said on Thursday. In its annual 2016 Natural Hazard Risk Summary & Analysis, the global property information, analytics […]
By Canadian Underwriter | January 26, 2017
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