Claims
Intact Financial Corporation (IFC) reported a $127 million impact in its second quarter financial results from the Fort McMurray wildfire, bringing its combined ratio to 99.2% for the quarter, including 8.8. points of Fort McMurray catastrophe losses. “We delivered $114 million in net operating income despite the $127 million impact from the Fort McMurray wildfires, […]
By Canadian Underwriter | July 27, 2016
3 min read
Canada’s Minister of Transport, Marc Garneau, has issued a protective direction aimed at accelerating the phasing out of DOT-111 tank cars for crude oil service to Nov. 1. Transport Canada (TC) announced on Monday that Garneau had issued Protective Direction 38, which accelerates the phasing out of unjacketed DOT-111 tank cars six months early and […]
By Canadian Underwriter | July 26, 2016
2 min read
An engineering professor from the University of Calgary is using freely accessible satellite data from NASA to create five classes of forest fire risk to help accurately predict where these hazards might strike. Quazi Hassan, a geomatics engineering associate professor in the University of Calgary’s Schulich School of Engineering, is using the data to accurately predict […]
WASHINGTON – The White House warned Tuesday of a “revolution” of computer-generated threats to the U.S. stoked by growing cyber aggression by traditional U.S. foes like Russia and North Korea, and issued a colour-coded response plan for the federal government to use after major cyberattacks. Lisa Monaco, President Barack Obama’s homeland security and counterterrorism adviser, […]
By Jason Contant | July 26, 2016
Everest Re Group Ltd. announced Monday that the net impact of three catastrophes – including the Fort McMurray wildfire – was $105.4 million in the three months ending June 30. “Catastrophe losses, net of reinsurance, amounted to $123.8 million in the quarter, with current quarter catastrophe losses for the Fort McMurray, Canada wildfires, Ecuador earthquake, […]
Despite a surge in kidnappings off West Africa, piracy and armed robbery at sea has fallen to its lowest levels since 1995, notes a new report issued Monday by the International Chamber of Commerce’s International Maritime Bureau (IMB). There were 98 incidents in the first half of 2016, down from 134 for the same period […]
SANTA CLARITA, Calif. – An unpredictable wildfire that destroyed more than a dozen houses filled skies north of Los Angeles with smoke Monday after driving thousands from their homes. Some evacuees were about to return home Sunday when unexpected winds stirred up the blaze that ignited two days earlier in brush withered by days of […]
By Jason Contant | July 25, 2016
The Saskatchewan city of Prince Albert has become the second city to enact water conservation protocols following an oil spill into the North Saskatchewan River, following on the heels of North Battleford. The City of Prince Albert said in a press release on Monday that as of 6:15 a.m., the water intake for the city’s […]
By Canadian Underwriter | July 25, 2016
4 min read
A storm event with flooding, hail and wind from June 28 to June 30 in Alberta has cost an estimated $70,440,000 in insured property damage, according to a catastrophe bulletin from Property Claim Services (PCS) Canada. According to the bulletin, the average claim payment for personal lines was $8,192, $10,466 for commercial and $6,058 for […]
A lawsuit filed by an employee terminated without cause and given two weeks’ termination pay plus 12 weeks’ salary in lieu of notice could reach the Supreme Court of Canada. Court records indicate that Lesley Cabott started working, as a professional planner and supervisor, in April, 2013 for Urban Systems Ltd. in Whitehorse. “She was […]
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