Claims
DAUPHIN, Man. – A Manitoba farmer is donating 100 hay bales to Alberta farmers hurt by drought. Jurgen Kohler says that after hearing about Alberta counties declaring states of agriculture disaster, he and his wife decided to donate their surplus hay bales to small farms within the drought-stricken areas. He says that he wants to […]
By The Canadian Press | August 7, 2015
1 min read
A 1-in-100 year flood in the Central Valley region of California could potentially result in US$24.1 billion of damage to floodplain assets, Lloyd’s said on Friday in its latest Innovation Series report. The flood risk analysis of the region – home to 6.9 million people and US$1 trillion of insurable assets – was written in […]
By Canadian Underwriter | August 7, 2015
2 min read
As Alberta agriculture producers continue to deal with dry conditions, the Alberta Financial Services Corporation (AFSC) estimates that this year’s claim payments for multi-peril crop insurance will range from approximately $700 million to $900 million. To date, AFSC has already paid out about $70 million on more than 3,000 insurance policies, “as claims are being […]
Severe weather in Canada on June 22 caused economic losses of more than US$40 million, noted Impact Forecasting’s Global Catastrophe Recap for July. In addition, wildfires caused minor structural damage in Canada and the United States, Impact Forecasting said on Thursday. “Hot, dry and windy conditions fanned the flames of wildfires burning in Canada’s western […]
By Canadian Underwriter | August 6, 2015
3 min read
Revenues before reimbursements for claims management solutions firm Crawford & Company were US$304.4 million in the second quarter of 2015, up from US$288.2 million for the second quarter of 2014, the company reported this week. The Atlanta, Georgia-based firm said in a press release that net income attributable to shareholders of Crawford & Company was […]
By Canadian Underwriter | August 5, 2015
CALGARY – Heavy rain, hail and strong winds have whipped through Calgary, leaving some damage in their wake. Flash flooding on Tuesday evening swallowed up some vehicles and caused delays for transit. In some spots, the hail was so heavy it looked like snow piled on the ground. Calgary Emergency Management Agency deputy chief Sue […]
By The Canadian Press | August 5, 2015
Catastrophe modelling firm AIR Worldwide reported on Tuesday that the Rocky Fire wildfire in northern California has more than tripled in size over the weekend and then jumped a containment line on Monday, as it grew to 97 square miles (more than 25,000 hectares in size). The wildfire in the Lower Lake area of California, […]
Researchers at Colorado State University (CSU) expect an Atlantic hurricane season below average in 2015, with the CSU Tropical Meteorology Project team calling for eight named storms over the June 1 to Nov. 30 season. Citing the development of a strong El Nino event and unfavourable hurricane formation conditions in the tropical Atlantic, CSU reported […]
Munich Reinsurance America, Inc. has introduced a new personal lines inland flood insurance product designed to provide more options for homeowners in low-to-moderate hazard flood zones in the United States. According to the National Flood Insurance Program (NFIP), flood is the most common natural disaster in the U.S. and all 50 states have experienced floods […]
British Columbia’s Environment Minister Mary Polak has called the Canadian Coast Guard’s review of the M/V Marathassa spill in English Bay a few months ago “a very good first step towards ensuring our coast is better protected from any potential spill.” The bulk carrier ship spilled an estimated 2,700 litres of bunker fuel into Vancouver’s […]
By Canadian Underwriter | August 4, 2015
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