Claims
AMHERST, N.S. – Flooding in two communities near the Nova Scotia and New Brunswick border left some residents stranded and others displaced from their homes on Monday. Amherst fire Chief Greg Jones said the department responded to a call at around 3 a.m. after heavy rains caused a nearby brook to crest its banks and […]
By The Canadian Press | June 22, 2015
2 min read
The number of insurance claims from lightning strikes in the United States continued its steady decline, as severe thunderstorm activity eased from near-record levels and dry weather prevailed throughout much of the western half of the country. Despite fewer storms, insurers still paid US$739 million in lightning claims to nearly 100,000 policyholders in 2014, the […]
By Canadian Underwriter | June 22, 2015
AIR Worldwide Monday issued a new version of its scalable catastrophe modelling software platform, Touchstone, which the provider of risk modelling software and consulting reports will give companies additional tools to test, compare and modify model output to develop their own view of risk. Version 3.0 of Touchstone – a risk management solution designed to […]
3 min read
The Federal Emergency Management Agency (FEMA) announced on Friday that additional counties in Oklahoma are now approved for individual and public assistance following severe storms, straight-line winds, tornadoes and flooding that begin in the state on May 5. Homeowners, renters and business owners in four more Oklahoma counties – Choctaw, Cotton, Rogers and Tillman – […]
By Canadian Underwriter | June 19, 2015
An independent report by Ernst & Young found that British Columbia has a “robust” regulatory framework in place to oversee hydraulic fracturing, the province’s Ministry of Natural Gas Development said in a press release on Thursday. The report, Review of British Columbia’s hydraulic fracturing regulatory framework, found that “the issues presented by hydraulic fracturing are […]
Four severe weather events accounted for more than 77% of Allstate Corporation’s estimated catastrophe losses for the month of May, which the company has pegged US$178 million, pre-tax (US$116 million after-tax). In total, there were eight catastrophe losses occurring in May for an estimated cost of US$180 million, pre-tax, partially offset by decreased reserve re-estimates […]
High-rate injection wells – those pumping out more than 300,000 barrels per month – are much more likely to be associated with earthquakes than low-rate wells, says a new study published this week in the journal Science. The study on induced seismicity, High-rate injection is associated with the increase in U.S. mid-continent seismicity, examined the […]
By Canadian Underwriter | June 18, 2015
VATICAN CITY – Pope Francis called Thursday for a bold cultural revolution to correct what he calls the “structurally perverse” economic system of the rich exploiting the poor that is turning Earth into an “immense pile of filth.” In a sweeping manifesto aimed at spurring action in U.N. climate negotiations, domestic politics and everyday life, […]
5 min read
A wildfire burning about 67 kilometres west of Pemberton, British Columbia has now grown to about 650 hectares, according to the provincial Ministry of Environment. The Elaho wildfire “is exhibiting extreme fire behaviour due to dry conditions, a weather inversion and the fuel types present in the area,” the ministry said in a statement on […]
By Canadian Underwriter | June 17, 2015
Colleen DeMerchant, general manager of the Nuclear Insurance Association of Canada (NIAC), announced on Wednesday global access to the domestic Canadian insurance pool by other international nuclear pools. Under a new co-operative agreement with Nuclear Risk Insurers (NRI), NIAC is able to “leverage their ‘Made in Canada’ expertise while providing access to other international nuclear […]
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