Claims
Canadian business leadership is crucial to reducing the risks from climate and other natural disasters, PwC Canada said on Friday. That day, PwC convened a group of private and public sector leaders to discuss the case for Canadian businesses to take action on reducing and managing the risks of climate and other natural disasters, the […]
By Canadian Underwriter | October 7, 2016
3 min read
With Hurricane Matthew weakening and being downgraded, it is less likely it will reach the US$30 billion initial loss estimates offered by catastrophe modelling firms, said Gary Marchitello, head of property broking with Willis Towers Watson (WTW). “The US$30 billion mark is really the tipping point, and anything less than this will not have a […]
Nearly two million homes in Florida, North and South Carolina and Georgia are risk of storm surge damage from Hurricane Matthew as it makes its way toward the United States’ Atlantic Coast, according to new data from CoreLogic, Inc. On Thursday, CoreLogic, a provider of global property information, analytics and data-enabled solutions, released data showing […]
By Canadian Underwriter | October 6, 2016
5 min read
Tropical cyclones throughout the world in September have cost the global economy more than US$4 billion, according to the latest edition of Aon Benfield’s Global Catastrophe Recap report, released on Thursday. The Global Catastrophe Recap, from Impact Forecasting, Aon Benfield’s catastrophe model development team, evaluated the impact of natural disaster events that occurred worldwide in […]
The landmark Paris agreement on climate change will enter into force on Nov. 4, after a coalition of the world’s largest polluters and small island nations threatened by rising seas pushed it past a key threshold on Wednesday. President Barack Obama hailed the news as “a turning point for our planet,” and U.N. Secretary-General Ban […]
By Jason Contant | October 6, 2016
The emergency payment program that has helped approximately 96,000 Wood Buffalo evacuees, forced from their homes in the wake of the massive Fort McMurray wildfire this past May, is ending Oct. 31. The program – which has provided wildfire relief funding totalling almost $100 million – was intended to cover immediate housing needs and day-to-day […]
2 min read
The province Manitoba has issued a flood watch advisory as heavy rain continues to fall throughout the province. The Hydrologic Forecast Centre of Manitoba Infrastructure reported on Tuesday that a major storm system has moved into the southwestern, western, northern and northeastern portions of the province, including areas along the Duck Mountains, Swan River, The […]
By Canadian Underwriter | October 5, 2016
Year-to-date Cat bond issuance was down more than 15% compared to the prior-year period as a result of a usually light third quarter and a less usual quiet second quarter, notes a new report from Property Claim Services (PCS). The PCS Catastrophe Loss Index shows that insurers and reinsurers brought just two Cat bonds to […]
BEULAH, Colo. – A wildfire that has forced hundreds of evacuations in southern Colorado destroyed at least eight homes, but firefighters took advantage of calmer weather Tuesday to get a handle on the blaze. Three helicopters and three air tankers, along with about 400 firefighters on the ground, battled the wildfire near Beulah on Tuesday, […]
By Jason Contant | October 5, 2016
Mississauga, Ont.-based Unica Insurance announced on Wednesday the launch of WATERtight protection, what it is calling “a comprehensive solution for water damage losses.” WATERtight protection is a single-product offering that provides coverage for damage caused by overland flooding, ground water, surface water and sewer backup, Unica said in a press release. The coverage is available […]
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