Claims
EDMONTON – Alberta released estimates Monday showing its climate change plan will shrink the economy in the short term, but Environment Minister Shannon Phillips said the figures are a work in progress. The province estimates the economic impact of the plan will be 0.3 or 0.4 per cent of the GDP by the year 2022, […]
By Jason Contant | November 1, 2016
2 min read
The government of Alberta announced on Monday that it has tabled a bill introducing measures aimed at reducing the number of wildfires caused by humans and enhancing firefighting operations in the province. Bill 24, the Forest and Prairie Protection Amendment Act, proposes amendments to the Forest and Prairie Protection Act that will, if passed: “Far […]
By Canadian Underwriter | November 1, 2016
It may be time to consider not only the unthinkable, but the uninsurable, when it comes to natural disasters. A large earthquake could be a solid candidate for such a scenario, demanding measures that give property and casualty insurers a fighting chance against insolvency.
By Angela Stelmakowich, Editor | November 1, 2016
5 min read
The government of Saskatchewan announced on Monday that it will add amendments to The Traffic Safety Act this fall to strengthen impaired driving legislation. This fall, the government will introduce the following amendments: If approved, changes will take effect Jan. 1, 2017, said a statement from Saskatchewan Government Insurance (SGI), the province’s self-sustaining auto insurance […]
3 min read
CNA Financial Corporation saw net income jump US$165 million to US$343 million in 2016 Q3 over the prior-year quarter, driven by the performance of its Property & Casualty Operations, higher net investment income and stable catastrophe losses. Net income for the third quarter of 2016 was US$343 million compared to US$178 million in the same […]
4 min read
Space weather risk could have significant implications for Canada and its property and casualty insurance industry, including supply chain disruption, business interruption and equipment loss. With Toronto and Vancouver within a band of heightened geomagnetic activity, the industry should consider extreme geomagnetic disturbance across all relevant lines of business as part of catastrophe planning.
By Edward Oughton, Research Associate, Centre for Risk Studies, Judge Business School, University of Cambridge | November 1, 2016
6 min read
If recent history is an indicator of future outcomes, Canada looks set on a path of annual billion-dollar (or more) losses from natural catastrophes. Should reinsurers view this as the new normal? And, if so, will treatment by reinsurers both inside and outside the country change to suit this evolving reality?
14 min read
Skepticism over security when migrating to the cloud was voiced by almost six in 10 Canadian senior-level business leaders taking part in a Microsoft Canada Inc. survey. In all, 58% of the 711 respondents from the private and public sectors who took part in the survey about digital transformation listed security as a top concern […]
By Angela Stelmakowich | October 31, 2016
NORCIA, Italy – Italy’s premier pledged Monday to find temporary housing for all those displaced by a series of powerful earthquakes in a central mountainous region, as the nation’s strongest temblor in 36 years pushed those needing assistance to more than 15,000. Some communities, however, resisted relocation. Sunday morning’s quake with a magnitude 6.6 caused […]
By Greg Meckbach | October 31, 2016
“Sitting on the sidelines is not an option while climate change threatens our future,” Vancouver Mayor Gregor Robertson emphasized last week in announcing the city’s next moves to prepare for sea level rise over the next century. “The massive costs and damages to Vancouver resulting from climate change and sea level rise can’t be ignored,” […]
By Canadian Underwriter | October 31, 2016
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