Claims
TORONTO – Rain and wind warnings and flood watches have been issued as the remnants of hurricane Patricia move across southern Ontario today, making for a messy morning commute in some areas. Forecasters predicted a “large shield of rain” in advance of the system they said would push into southwestern Ontario overnight and move into […]
By The Canadian Press | October 28, 2015
2 min read
The Government of Alberta’s announcement this week that it will pump almost $450 million into funding flood protection measures along the Bow and Elbow Rivers shows its “commitment to building resilient communities,” Insurance Bureau of Canada (IBC) notes in a statement late Wednesday. IBC welcomed Alberta’s move to provide $297 million to ensure communities along […]
By Canadian Underwriter | October 28, 2015
Impact Forecasting, Aon Benfield’s catastrophe model development team, announced on Tuesday that it has enhanced its United States riverine flood model to more precisely quantify flood risk at a much higher resolution. Aon Benfield launched the enhanced model at the 2015 Property Casualty Insurers Association of America’s annual meeting in Hollywood, Florida. The model will […]
By Canadian Underwriter | October 27, 2015
3 min read
Guy Carpenter & Company, LLC, a global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Companies, has said that preliminary data indicates that 2015 insured losses from wildfires in the United States “may approach or exceed US$1.75 billion.” On Monday, Guy Carpenter released a new briefing, titled U.S. Wildfire: An Ever […]
While satisfaction with the auto insurance claims process in the United States is lower among Millenial claimants than among their older counterparts, the former’s satisfaction is improving, according to the J.D. Power 2015 U.S. Auto Claims Satisfaction Study released on Monday. The study measures customer satisfaction with their most recent automobile collision claim. Depending on […]
Everest Re Group Ltd., whose products include reinsurance worldwide and liability coverage in Canada for sports and leisure firms, reported Monday a 1.65% increase in third-quarter premiums earned while its combined ratio deteriorated 3.3 points. Hamilton, Bermuda-based Everest Re released its financial results for the three months ending Sept. 30, after the close of trading […]
The Government of Alberta has committed to funding flood protection measures along the Bow and Elbow Rivers to help prevent a repeat of the damage and devastation experienced in parts of Calgary and upstream communities during the severe flooding in June 2013. That flooding – the costliest natural disaster in Canadian history, resulting in about […]
4 min read
AUSTIN, Texas – Relentless showers soaking Texas began finally clearing Sunday as dangerous flood warnings expired and the remnants of Hurricane Patricia continued dissolving into a steady but manageable drizzle. More than a foot (30 centimetres) of rain has drenched parts of Texas since Friday, shutting down busy highways and derailing a train. Authorities said […]
By Canadian Underwriter | October 26, 2015
The Insurance Brokers Association of Canada will be “prepared” next month to share a flood principles document, approved in Quebec City at IBAC’s meeting last month, the association’s president told Ontario brokers recently. During the annual members’ general meeting of the Insurance Brokers Association of Ontario (IBAO), IBAC President Lorne Perry noted that an IBAC […]
5 min read
Approximately 48% of commercial vehicles inspected in the northern part of Durham Region, Ont. last week were taken off the road due to safety concerns. In total, 31 vehicles were inspected and 15 were removed from service for “various defects,” the Durham Regional Police Service (DRPS) said in a press release on Friday. The majority […]
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