Claims
OTTAWA – The federal government has released its long-term climate strategy with a caution that most Canadians – while sympathetic to the cause – don’t yet understand the “magnitude of the challenge.” The document suggests the country should find a way to cut emissions 80 per cent below 2005 levels by 2050 in order to […]
By Jason Contant | November 18, 2016
3 min read
The BC Wildfire Service is making an interactive map that displays details and locations for specific registered fires available on its website. Although wildfires are rare in British Columbia at this time of year, smoke from legal, registered open burns is often mistaken for smoke from a wildfire, the provincial Ministry of Forests, Lands and […]
By Canadian Underwriter | November 18, 2016
2 min read
A tropical moisture system resulting from Hurricane Matthew that swept through Atlantic Canada last month has resulted in over $100 million in insured damage, according to Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ). A cold front interacting with Matthew’s tropical moisture resulted in a low-pressure system that quickly intensified and brought hurricane strength winds and […]
Transportation Safety Board of Canada is warning of a “continued risk” of flammable liquid spills, when tank cars derail, if new standards recommended in 2014 are not “fully implemented in a timely manner.”TSB released Wednesday a report into an investigation into freight train derailment Oct. 7, 2014 near Clair, Sask. A Canadian National Railway train […]
5 min read
Two-thirds (66%) of respondents to a study conducted by the Ponemon Institute have reported that their organization is not prepared to recover from cyberattacks. Resilient, an IBM Company and sponsor of the report, and the Ponemon Institute, revealed the results of their annual 2016 Cyber Resilient Organization study on Wednesday. The study found that only […]
The largest earthquake to hit New Zealand since 2009, registering magnitude 7.8, could contribute to insured losses amounting to US$762 million to US$3.5 billion, catastrophe modelling firm AIR Worldwide reported Thursday. The modelled estimates include insured physical damage to property (residential, commercial/ industrial), both structures and their contents from ground shaking; demand surge; and direct […]
OTTAWA – The federal government was unable to say Thursday whether any personal information of potential military recruits was stolen during what appears to have been a hack of a National Defence website. Public Safety Minister Ralph Goodale said federal officials were investigating after people trying to access the military’s recruiting website were instead directed […]
Property Claim Services (PCS) has updated its insured damage estimate for the Fort McMurray wildfire to $3.98 billion, down from its August estimate of $4.67 billion. Of the $3.98 billion estimate, the majority is in personal lines ($2.9 billion), with $967 million in commercial business and $114 million in commercial auto, according to information from […]
By Canadian Underwriter | November 17, 2016
Merger and acquisition (M&A) activity in the United States is expected to remain steady in 2017 compared to the deal levels of 2016, according to a recent survey by audit, tax and advisory firm KPMG LLP. Of the 94 respondents to KPMG’s M&A Market Pulse 2017 survey, 83% anticipate that they will have completed at […]
EASTERN PASSAGE, N.S. – A major fire has caused extensive damage at a waterfront fish processing plant on Nova Scotia’s eastern shore. Brad Connors, a division commander with the Halifax regional fire department, said a call came in at about 9:20 p.m. Wednesday that the Capital Seafood plant in Fisherman’s Cove in Eastern Passage was […]
By The Canadian Press | November 17, 2016
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