Claims
Swiss Re announced on Wednesday that it will adopt the climate-related financial disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Swiss Re helped develop the voluntary guidelines on climate risk reporting and is a member of the TCFD. “Swiss Re believes the guidelines will ensure more transparency on climate-related risks and help […]
By Canadian Underwriter | December 14, 2016
4 min read
Developers and property owners in Ontario’s Dufferin County are eligible for rebates if they install hurricane straps in their buildings, a county official says. Hurricane straps, which are metal bands that wrap around trusses and connect to walls, “can largely eliminate the risk of roof failures from an EF2 tornado,” Western University engineering professor Greg […]
By Canadian Underwriter | December 13, 2016
3 min read
There is a chance of “moderate to major flooding” in some locations in Manitoba, according to the 2016 Fall Conditions Report from Manitoba Infrastructure. The report, released on Tuesday, indicates high levels of soil moisture at freeze-up in the western and northern areas of the province, while the Red River Valley ranges from average to […]
2 min read
The outlook for the Canadian property and casualty (P&C) industry is stable, driven by good demand, strong underwriting discipline and solid balance sheets, Moody’s Investors Service said in a report released on Monday. However, despite the stable outlook, these trends will be offset by persistently low investment yields and potential volatility from catastrophes, Moody’s said […]
WASHINGTON – The United States Supreme Court on Monday rejected challenges to the estimated $1 billion plan by the NFL to settle thousands of concussion lawsuits filed by former players, clearing the way for payouts to begin to those who have been diagnosed with brain injuries linked to repeated concussions. The settlement covers more than […]
By Canadian Underwriter | December 12, 2016
HALIFAX – Lawyers for Transport Canada are in a Halifax courtroom today challenging the certification of a class action lawsuit filed on behalf of the 133 passengers aboard an Air Canada jet that crashed at the Halifax airport in March 2015. As the Airbus 320 approached in gusty winds and heavy snowfall, it hit some […]
By The Canadian Press | December 12, 2016
1 min read
NEW DELHI – A cyclone slammed into India’s southeastern coast on Monday, killing at least two people and causing authorities to evacuate thousands of people from low-lying areas. Schools and offices were closed and state authorities were on alert in Tamil Nadu and Andhra Pradesh states as Cyclone Vardah hit the coast. Police and disaster […]
A proposal to advance the 2018 cashflow for Toronto’s basement flooding protection program into 2017 will be considered by City Council Tuesday. Toronto’s Basement Flooding Protection Program – which includes construction of surface storage ponds, an underground storm storage tank and upgrades to storm and sanitary sewers – was first approved in April, 2006. The […]
OTTAWA – Prime Minister Justin Trudeau declared victory Friday in his campaign to craft a national “framework” agreement on climate change – even though Saskatchewan and Manitoba refused to sign on to the deal and British Columbia claimed a major carve-out. Even as Trudeau was asserting the provinces and territories “are all in this together,” […]
By Jason Contant | December 12, 2016
5 min read
Although the issue of sustainability in insurance is a relatively new concept in Canada, it is one that is gaining ground throughout the world, a speaker said on Wednesday at KPMG’s 25th Annual Insurance Conference. Houston Cheng, consulting actuary and senior manager at KPMG was speaking during the Trends in P&C session at the conference, […]
By Jason Contant | December 9, 2016
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