Claims
The United Kingdom losses for Desmond – the December storm that brought record-breaking rainfall and subsequent flooding to parts of the U.K. – have been estimated at £717 million, PERILS AG reported Friday. Representing the first of four loss estimates that PERILS will release, the initial estimate for the U.K. – Ireland and Scandinavia were […]
By Canadian Underwriter | January 15, 2016
2 min read
Contactless payment methods, a common-law duty to “act honestly in the performance of contractual obligations” and the proposed Trans Pacific Partnership international trade agreement are among the top 10 legal risks for businesses this year, law firm Borden Ladner Gervais LLP suggested in a recent report. “The advent of mobile and digital wallets coupled with […]
By Canadian Underwriter | January 14, 2016
4 min read
Manitoba Infrastructure and Transportation Minister Steve Ashton has announced that Amphibex icebreaking machines have been retrofitted with a “made-in-Manitoba solution” to reinforce the front pedestal assembly supporting the critical hydraulic boom arms to better attack Red River ice when the ice-jam mitigation program goes into action. Ashton made the announcement on Thursday at the Amphibex […]
OTTAWA – The federal public safety minister says the government will open its wallet to help Canadians prepare for natural catastrophes spawned by extreme weather linked to climate change. Devoting a portion of planned infrastructure spending to disaster readiness will not only stimulate the economy, but ensure communities are better able to deal with floods, […]
3 min read
The failure of climate change mitigation and adaptation has been cited as the number one global risk with the greatest potential impact in 2016, according to the World Economic Forum (WEF). In Canada, energy prices were cited as the top concern. The Global Risks Report 2016 report, released on Thursday, involved nearly 750 experts and […]
The Insurance Bureau of Canada (IBC), along with the Ontario Road Builders’ Association (ORBA), the Infrastructure Health and Safety Association (IHSA) and Canadian Tire, have launched a new Winter Ready campaign. The campaign, online at www.winterready.ca and under the Twitter handle @WinterReady2016 and hashtag of #WinterReady, is reminding Ontario motorists to avoid procrastination when it […]
By Canadian Underwriter | January 13, 2016
The Institute for Catastrophic Loss Reduction (ICLR) announced on Wednesday that its next Friday Forum series will focus on the Insurance Bureau of Canada’s (IBC) new flood maps. The workshop will be held from 10 a.m. to 11:30 a.m. on Tuesday, Jan. 26 in the ICLR’s boardroom at 20 Richmond Street East, Suite 210, in […]
WINNIPEG – A family on a northern Manitoba First Nation that has been forced to move more than 15 times since the flood of 2011 says they don’t know if they will have a place to live come Feb. 1. Albert Sutherland and his wife, Cheryl, say they have lived on the Peguis First Nation […]
Pollution and macroeconomic developments were among the top 10 most important business risks for 2016 identified by Canadian experts surveyed, which did not make the top 10 in 2015. Allianz Global Corporate & Specialty SE announced Wednesday its 5th annual Allianz risk barometer, which is based on a global survey conducted this past October and […]
Insured losses for global natural disasters in 2015 were 31% below the 15-year average of US$51 billion, the lowest annual insured loss total since 2009, Aon Benfield’s catastrophe model development team said on Wednesday. According to Impact Forecasting’s Annual Global Climate and Catastrophe Report, which evaluates the impact of natural disaster events that took place […]
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