Claims
Insured losses from catastrophe events in North America in the first nine months of 2015 topped US$12.6 billion, according to a report released on Wednesday by Property Claim Services (PCS), a Verisk Analytics business. The PCS report, titled Events Rise, Losses Fall: PCS Q3 2015 Catastrophe Review, noted that PCS designated 30 events in the […]
By Canadian Underwriter | October 21, 2015
2 min read
More needs to be done to address insured losses from hail, an official with the Institute for Catastrophic Loss Reduction suggested Tuesday. During a presentation at a seminar organized by AIR Worldwide, ICLR Managing Director Glenn McGillivray showed attendees a list of large hail events in Canada. Three of those storms in Alberta – in […]
3 min read
ACE Limited reported Tuesday its net income for the third quarter of 2015 was US$528 million, down 32.7% from the US$785 million in the same quarter of 2014. Operating net income, net of tax, showed a slight increase, reaching a record US$897 million in the quarter ended September 30, 2015 compared to US$891 million for […]
An evolution has occurred in the catastrophe modelling market in which clients are looking to be more involved so that they can better understand and own their risk, Rob Newbold, a senior vice president with AIR Worldwide, told Canadian Underwriter during a company event in downtown Toronto Tuesday. For many years, the system involved modellers […]
By Canadian Underwriter | October 20, 2015
Between US$2 billion and US$14 billion of recorded annual economic losses related to tropical cyclones in the year 2005 in the United States could be attributable to climate change, suggests a study published Monday in the journal Nature Geoscience. The article, titled Economic losses from US hurricanes consistent with an influence from climate change, examined […]
WASHINGTON – An expanding investigation into Volkswagen’s emissions-cheating scandal launched by state attorneys general could last years and will likely end in a negotiated settlement. Forty-five states and D.C. have joined the review, investigating how VW was able to game emissions tests to hide that its “Clean Diesel” cars emitted smog-causing exhaust up to 40 […]
4 min read
A British Columbia law giving police the power to issue driving suspensions of up to 30 days, to motorists who blow a “warn” in breathalyzer tests, does not require the same protections as those provided by the Criminal Code of Canada, Canada’s highest court has suggested. “Roadside driving prohibitions are a tool to promote public […]
5 min read
Characterizing Manitoba’s winter tire low-interest financing program as a success, Gord Mackintosh, minister responsible for Manitoba Public Insurance (MPI), announced Monday the program will again be offered to vehicle owners. MPI reports more than 30,000 Manitobans have taken advantage of the program, introduced last fall by the provincial government and administered by MPI. “The safety […]
The United States’ Transportation Secretary, Anthony Foxx, and Federal Aviation Administration (FAA) administrator Michael Huerta announced on Monday the creation of a task force to develop recommendations for a registration process for unmanned aircraft systems (UAS). The task force will be composed of 25 to 30 diverse representatives from the UAS and manned aviation industries, […]
By Canadian Underwriter | October 19, 2015
Saskatchewan’s Ministry of Government Relations announced on Monday the launch of an online tool to seek public feedback on the provincial response to the 2015 wildfire season in northern Saskatchewan. “This summer, northern Saskatchewan people faced an unprecedented emergency situation,” said Jim Reiter, Minister of Government Relations, in a press release. “Thankfully, we had no […]
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.
