Claims
Strong results for both property and casualty reinsurance and life and health reinsurance contributed to Hannover Re’s record profit in 2015, posting Group net income of 1.15 billion euros for the year and handily beating its profit target, notes a statement issued Thursday. Hannover Re saw Group net income increase 16.7% to 1.15 billion euros […]
By Canadian Underwriter | March 11, 2016
5 min read
BOSSIER CITY, La. – A thousand people were forced to leave their homes early Thursday as a second round of unusually heavy rain hit an already inundated northern Louisiana. The southern part of the state was bracing for heavy rain later in the day. Sixteen Louisiana parishes have declared a state of emergency, and the […]
By Canadian Underwriter | March 10, 2016
3 min read
VANCOUVER – A powerful windstorm knocked out electricity to tens of thousands of customers across B.C.’s south coast early Thursday morning. Environment Canada says potentially damaging wind gusts of up to 90 kilometres per hour are sweeping across most of region. Conditions are expected to improve by the afternoon but wind warnings remain posted for […]
By The Canadian Press | March 10, 2016
1 min read
Canada’s highest court announced Thursday it will not hear an appeal from an Ontario woman injured in a motorcycle accident in British Columbia who unsuccessfully sought to sue the driver in an Ontario court. So a unanimous finding – that an Ontario court does not have jurisdiction in a tort action against the motorcycle operator […]
SASKATOON – The provincial government has told the City of Saskatoon that it won’t be creating special regulations for ride-sharing companies such as Uber. The news was delivered to a meeting of the city’s transportation committee in a report from the city solicitor. The committee heard from several representatives from Saskatoon’s taxi and limousine industries. […]
By Canadian Underwriter | March 9, 2016
2 min read
Total economic losses from the late February winter storm in the United States that was felt in eastern Canada are estimated in the millions of dollars (U.S.), according to Impact Forecasting’s latest Global Catastrophe Recap. The report, released on Tuesday, evaluated the impact of the natural disaster events that took place worldwide in February. Impacts […]
The Ontario government has “initiated a review” of the solvency funding framework for workplace pension plans, the ruling Liberals announced in their budget document for 2016-17. “In recent years, low long-term interest rates have placed funding pressures on pension plan sponsors of single-employer defined benefit (DB) pension plans,” the government stated Feb. 25 when it […]
TOKYO – After battling radioactive water leaks for five years at Japan’s crippled Fukushima Dai-Ichi nuclear plant, the utility that ran it says it will need another four to finish the job. “We will bring an end to the problem by 2020,” says Yuichi Okamura, who led the Tokyo Electric Power Co. team dealing with […]
By Canadian Underwriter | March 8, 2016
CALGARY – A number of people are homeless after their houses were destroyed by fire overnight in Calgary. Firefighters were called just before 2:00 a.m. to the northwest Kincora neighbourhood, where they found two houses engulfed in flames and quickly called in a second alarm. Acting battalion chief Fred Rogi says a strong wind combined […]
By The Canadian Press | March 8, 2016
A dispute between the Insurance Corporation of British Columbia and a woman seriously injured in a vehicle crash, arising from an intoxicated passenger grabbing the steering wheel, may reach the Supreme Court of Canada. In September, 2015, the B.C. Court of Appeal ruled against ICBC, the crown corporation with a monopoly on basic auto coverage […]
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