Claims
Clean-up efforts are continuing in the Halifax Regional Municipality (HRM), after a blizzard that dumped more than 80 centimetres in the region since the weekend. Most areas saw more than 50 centimetres of snow on Wednesday and high snow banks and blowing snow are causing poor visibility across the region, the HRM reported in a […]
By Canadian Underwriter | March 19, 2015
2 min read
WINNIPEG – The federal aboriginal affairs minister says about 2,000 evacuees forced from their homes since heavy flooding in Manitoba in 2011 won’t be able to return overnight. Bernard Valcourt says Ottawa is working closely with the province to get people back, but at least one community has to start from scratch. Related: Manitoba issues […]
By The Canadian Press | March 18, 2015
1 min read
State Farm Mutual Automobile Insurance Company announced on Tuesday that it is the first insurer in the United States to receive permission from the Federal Aviation Administration (FAA) to test unmanned aircraft systems (UAS) for commercial use. The decision provides the insurer the opportunity to research this new technology and potentially deploy it in ways […]
By Canadian Underwriter | March 18, 2015
The United States government should decide within 60 to 90 days of an incident whether losses from that incident qualify for coverage under the Terrorism Risk and Insurance Act (TRIA), which provides for a government backstop for commercial property coverage, Risk and Insurance Management Society Inc. (RIMS) contends. “We suggest a 60-90 day deadline from […]
5 min read
Impact Forecasting, Aon Benfield’s catastrophe model development team, announced on Wednesday that it is applying a new blast engineering approach to provide a more realistic understanding of the potential range of losses from a terrorist attack. Impact Forecasting’s terrorism risk experts utilize computational fluid dynamics (CFD) software developed over many years in conjunction with the […]
There is little prospect of reducing economic losses from present levels of US$240 billion per year, suggested preliminary results from a catastrophe modelling study presented at the 3rd U.N. World Conference on Disaster Risk Reduction in Sendai, Japan on Wednesday. Dr. Milan Simic (pictured left), senior vice president of AIR Worldwide, said in a press […]
3 min read
Canada’s transportation investigator says track infrastructure failures may have played a role in three recent derailments involving oil-laden trains in northern Ontario. The Transportation Safety Board says it wants Transport Canada to review the risk assessments for a stretch of track known as the CN Ruel subdivision following the fiery derailments in Gogama and Minnipuka. […]
By Canadian Underwriter | March 17, 2015
The Manitoba Office of the Fire Commissioner (OFC) said on Tuesday that it will spend $7 million to install sprinklers and other fire safety improvements in 24 personal care homes and hospitals in the province. Manitoba Labour and Immigration Minister Erna Braun, who is also responsible for the Office of the Fire Commissioner, said that […]
WELLINGTON, New Zealand – The United Nations reported Monday that 24 people are confirmed dead and 3,300 have been displaced by Cyclone Pam in the South Pacific archipelago of Vanuatu. Radio and telephone communications with outer islands have not yet been established two days after what the country’s president called a “monster” storm, the U.N. […]
By Canadian Underwriter | March 16, 2015
Fraudulent diversion of funds is on the increase in the maritime sector, notes a warning issued Friday by the International Transport Intermediaries Club (ITIC). ITIC, managed by Thomas Miller, issued a warning in March about the fraudulent diversion of port expenses, but reported Friday it is “now seeing evidence of similar frauds being perpetrated across […]
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