Claims
Flooding in Japan has forced the evacuation of approximately 860,000 people north and east of Tokyo, and about 100,000 people were ordered from their homes, AIR Worldwide reported on Thursday. Torrential rainfall during the last several days – exacerbated by Typhoon Etau – has resulted in significant flooding, with “tremendous levels of damage to property […]
By Canadian Underwriter | September 11, 2015
3 min read
The United States’ director of national intelligence said on Thursday that rather than a “cyber Armageddon” scenario that debilitates the entire U.S. infrastructure, he foresees an “ongoing series of low-to-moderate level cyberattacks from a variety of sources over time, which will impose cumulative costs on U.S. economic competitiveness and national security.” James Clapper made the […]
The Greater Toronto Area (GTA) continues to be the epicentre of insurance fraud, which contributes to higher insurance premiums for Ontarians, Aviva Canada said on Friday after announcing three separate cases in the region. Aviva Canada, a provider of home, auto, recreational vehicle, group and business insurance, said in a press release on Friday that […]
Quebec’s brokers association, the Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ), has issued a warning to UberX users that they are still not covered, despite a recently announced agreement between Intact Financial Corporation (IFC) and Uber. The RCCAQ, the professional association representing more than 4,400 insurance brokers at 570 firms and branch offices […]
By Canadian Underwriter | September 10, 2015
Aon Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, has announced that in the 12 months to June 30, there was a record number of catastrophe bonds on risk – US$23.5 billion. On Thursday, Aon Securities released its annual report on the insurance-linked securities (ILS) sector, which analyses the […]
2 min read
Present conditions at the study sites of one of the worst wildland/urban interface (WUI) fire disasters in modern Canadian history – the 2003 Okanagan Mountain Provincial Park wildfire in Kelowna, British Columbia – indicate that the disaster could be repeated, the Institute for Catastrophic Loss Reduction (ICLR) said in a paper released on Wednesday. The […]
By Canadian Underwriter | September 9, 2015
4 min read
Many mid-Atlantic and West Coast communities in the United States could see the highest number of nuisance flooding days on record through April due to higher sea levels and more frequent storm surge, compounded by the strengthening El Niño, which is likely to continue into the spring, according to a new report from the National […]
The City of Edmonton announced on Friday that it has proposed a new Vehicle for Hire Bylaw that would allow technology-based dispatchers to operate, while also seeking to maintain a competitive traditional taxi sector. “Many Edmontonians said they wanted us to consider the options,” said Garry Dziwenka, director of licensing and vehicle for hire, in […]
By Canadian Underwriter | September 4, 2015
The government of British Columbia announced on Friday that it will introduce legislative amendments in the spring of 2016 to strengthen and clarify provisions of the provincial Wildfire Act – and that may apply to the operation of drones. The federal government, through Transport Canada, regulates the use of all aircraft – including drones – […]
The pursuit of a nearly-$10 billion judgement debt in Ecuador, arising from pollution claims against Chevron Corp., can proceed against the petroleum giant’s Canadian subsidiary in an Ontario court, the Supreme Court of Canada ruled Friday. The question of whether Calgary-based Chevron Canada is actually a judgement debtor – and if so whether its shares […]
5 min read
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