Claims
Eight of the 10 catastrophe bonds issued during the second quarter of 2015 included coverage for United States hurricane and one of those used a parametric index trigger, while Italian insurer UnipolSai Assicurazioni S.p.A entered the market with a 200-million-euro issuance covering European earthquake, Aon Securities Inc. reported Wednesday. Total cat bond issuance in Q2 […]
By Canadian Underwriter | July 15, 2015
3 min read
Fire weather seasons have lengthened globally by nearly 20% between 1979 and 2013, said a study released on Tuesday in the journal Nature Communications. The study, titled Climate-induced variations in global wildfire danger from 1979 to 2013, found that globally, fire seasons have lengthened across 29.6 million km2, or 25.3% of the Earth’s vegetated surface, […]
2 min read
CHESTERMERE, Alta. – Just two days after being hit by flash flooding, Chestermere, Alta., has again been hit by heavy rains. David Spence, meteorologist for radio station CFFR, said Tuesday’s heavy downpour was the last thing the community east of Calgary needed because the ground there is already saturated. On Sunday, about 300 homes were […]
By The Canadian Press | July 15, 2015
FLAT GAP, Ky. – Doris Hardin watched the water rise from the window of her mobile home in rural Johnson County. Her lights flickered off then her neighbour banged on the door, shouting for her to flee. She ran for her car but it was already gone. “I grabbed my keys and my purse and […]
5 min read
The United States’ National Highway Traffic Safety Administration (NHTSA) confirmed on Monday that it has opened an investigation into another instance involving the possibility of rupturing air bag components. The announcement comes about two months after the Takata air bag recall, which affected more than 34 million vehicles, including at least 1.2 million in Canada. […]
By Canadian Underwriter | July 14, 2015
Natural catastrophes in the first half of the year in North America caused overall losses of approximately US$12 billion, of which insurers bore the brunt – US$8 billion, Munich Reinsurance America, Inc. said on Tuesday. “The costliest global natural catastrophe for the insurance industry in the first half of the year was a series of […]
AIR Worldwide is expanding its suite of models for Canada with new winter storm and tropical cyclone models, as well as updates to its Canada Severe Thunderstorm Model, meant to provide a more complete view of atmospheric peril risk and account for insurance policy conditions specific to the country. “AIR is committed to providing the […]
WASHINGTON – The head of the U.S. government’s personnel office resigned abruptly on Friday, bowing to bipartisan calls for her to step down following a massive government data breach on her watch. Katherine Archuleta, director of the federal Office of Personnel Management, submitted her resignation to President Barack Obama on Friday morning, the White House […]
By Canadian Underwriter | July 13, 2015
British Columbia’s Ministry of Forest, Lands and Natural Resource Operations said on Sunday that it has expanded an evacuation order and alert for the Puntzi Lake area “due to the expansion and aggressive behaviour of the Puntzi Lake wildfire.” As of Monday morning, the estimated 8,089-hectare wildfire was about 30% contained, according to the province’s […]
PRINCE ALBERT, Sask. – Massive wildfires in northern Saskatchewan continue to burn out of control as crews work to protect communities from the flames. One blaze near La Ronge has merged with another fire and is now more than five times the size of the city of Saskatoon. Steve Roberts of the Wildfire Management Branch […]
By The Canadian Press | July 10, 2015
1 min read
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.
