Claims
CALGARY – Analysts say lost oilsands production from the Fort McMurray wildfires could top 30 million barrels and cost the industry upwards of $1.4 billion. Some of the largest oilsands producers in the province were forced to shut down or curtail operations last month as 80,000 residents of Fort McMurray evacuated the city to escape […]
By Jason Contant | June 15, 2016
3 min read
Markham, Ont.-based Pembridge Insurance Company has announced the launch of their enhanced Water Damage Extension endorsement, which includes protection for sewer back-up and is now extended to include overland water, or fresh water flooding and damage caused by surface or ground water. The endorsement, launched on Wednesday, addresses the growing exposure to flood that Canadians […]
By Canadian Underwriter | June 15, 2016
2 min read
Flood is clearly the number one peril in Canada, with Swiss Re estimating that a “perfect storm” flood scenario would result in economic losses of $13.8 billion and insured losses of $5.7 billion. Developed using the company’s new probabilistic flood model, the estimate of a 1 in 200-year flood represents almost three times the losses […]
5 min read
A proposal to prohibit right turns on red lights at some Toronto intersections and to ask the Ontario government to approve “automated speed enforcement” or photo radar, is scheduled for debate next Monday at a Toronto city council committee meeting. A staff report dated June 10 recommends that City Council authorize the city’s general manager […]
By Canadian Underwriter | June 14, 2016
4 min read
Connected cars could save 720,000 lives from road accidents annually and prevent up to 30 million traffic injuries, according to a new analysis prepared for the Global e-Sustainability Initiative (GeSI) by Accenture, a global professional services company. The information and communication technologies (ICT) sector can play a vital role in helping achieve the objectives of the […]
The Government of Saskatchewan announced on Monday that new privacy legislation is being introduced and expected to come into force in 2017. The Freedom of Information and Protection of Privacy Amendment Act, 2016 (FOIPP) and The Local Authority Freedom of Information and Protection of Privacy Amendment Act, 2016 (LAFOIPP) are being introduced in response to […]
The province of British Columbia announced on Monday its latest funding toward a flood mitigation project – $1.6 million for flood-protecting dikes in the City of North Vancouver and the District of North Vancouver that will help protect a business area and parkland. The funding, announced by the Ministry of Transportation and Infrastructure, is part […]
Agriculture and Agri-Food Canada (AAFC) has announced an investment of more than $1.1 million to develop a hydrology model of Manitoba’s Assiniboine River Basin that will help predict the effects of flooding, excess moisture and extreme drought on agriculture lands. Agriculture and Agri-Food Minister Lawrence MacAulay made the announcement of the investment for the Manitoba […]
By Canadian Underwriter | June 13, 2016
FORT MCMURRAY, Alta. – The huge wildfire that tore through parts of Fort McMurray and northeastern Alberta is classified as being held for the first time since it became out of control in early May. Wildfire information officer Lynn Daina said the designation means the fire is no longer growing, but is not yet under […]
By The Canadian Press | June 13, 2016
The years of 2011 and 2014 were the costliest years for hail-related vehicle claims in the United States during a 2008-14 study period, with losses concentrated in the country’s midsection, according to an updated analysis by the Highway Loss Data Institute (HLDI) in the United States. A total of 31 insurers in HLDI’s database paid […]
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