Claims
As Ecuador continues to suffer aftershocks from a major earthquake the evening of April 16, catastrophe modeling vendor AIR Worldwide estimates insured losses could exceed $1 billion. In an alert published Thursday, Boston-based AIR Worldwide said it estimates that industry insured losses from the April 16 quake – which measured 7.8 on the Richter scale […]
By Canadian Underwriter | April 22, 2016
3 min read
UNITED NATIONS, N.Y. – Prime Minister Justin Trudeau joined world leaders Friday to help formally ratify a global treaty on climate change. Putting his signature to the Paris accord was the easy part. The hard part comes next: reducing Canada’s greenhouse-gas emissions by 30 per cent over the coming decades. Canada is nowhere near that […]
By Jason Contant | April 22, 2016
A catastrophic earthquake could threaten Canada’s property and casualty industry, clearly illustrating the need to have in place a government backstop, Sylvie Paquette, chair of the Board of Directors for Insurance Bureau of Canada (IBC), said following IBC’s Annual General Meeting in Toronto Thursday. “If there is a big earthquake in Canada, it might drag […]
By Angela Stelmakowich | April 22, 2016
Weather events this week in Texas may be producing “one of the most severe flood events” in history, in Houston, not caused by a tropical cyclone Risk Management Solutions Inc. stated Thursday. The Associated Press reported that the Houston area got 18 inches (nearly 460 millimetres) of rain Sunday night and Monday. “Much of Harris […]
By Canadian Underwriter | April 21, 2016
2 min read
Overall investor demand remains high in the insurance-linked securities market, with US$2.215 billion in new issuance of catastrophe bonds – one of which covers Canadian earthquake risk – in the first three months of 2016, Aon plc reported Wednesday. Chicago-based Aon Benfield – Aon’s reinsurance brokerage unit – released its Insurance Linked Securities Q1 2016 update. […]
MEXICO CITY – An explosion killed 13 people and injured scores at a petrochemical plant on Mexico’s southern Gulf coast. The blast and ensuing fire caused evacuations in the area as a fire billowed a toxin-filled cloud into the air. The head of Mexico’s civil defence agency, Luis Felipe Puente, wrote in his Twitter account […]
The cost of insured damage caused by the ice storm that swept through southern Ontario between March 23 and 26 is estimated at more than $25 million, according to preliminary estimates provided by Catastrophe Indices and Quantification Inc. (CatIQ). CatIQ compiles and combines comprehensive insured-loss amounts and related information to serve the risk management needs […]
By Canadian Underwriter | April 20, 2016
The BC Wildfire Service has responded to 45 new wildfires in northeast British Columbia over a two-day period, the Ministry of Forests, Lands and Natural Resource Operations said on Tuesday. The ministry said in a statement on Tuesday evening that the BC Wildfire Service has responded to 45 new wildfires in the Prince George Fire […]
Cyber criminals are increasingly making use of malware-as-a-service, an issue of concern given that 97% of applications tested by Trustwave in 2015 had at least one vulnerability, note findings from the 2016 Trustwave Global Security Report. While the lion’s share of applications tested last year had at least one vulnerability, 10% of the vulnerabilities discovered […]
6 min read
For the 11th straight month, the globe was record warm, as March set another heat record, the National Oceanic and Atmospheric Administration (NOAA) said on Tuesday. As the Earth continues to warm and is influenced by phenomena such as El Niño, global temperature records are piling up, NOAA said in a statement. For 2016 year-to-date […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
