Claims

Average annual global losses, threat to lives and livelihoods from natural disasters pegged at US$190 billion: U.N. conference Fallback Image Decorative pattern

Claims

Average annual global losses, threat to lives and livelihoods from natural disasters pegged at US$190 billion: U.N. conference

Average annual economic losses and average annual insured losses of approximately US$190 billion and US$60 billion, respectively, from natural disasters in the past decade clearly demonstrate that governments must step up global efforts to build resilience. The caution was part of the United for Disaster Resilience Statement issued Saturday by insurance companies – members of […]

By Canadian Underwriter | March 16, 2015

3 min read

Ontario MPPs vote to “transition to a low-carbon economy” amid concerns about extreme weather Fallback Image Decorative pattern

Claims

Ontario MPPs vote to “transition to a low-carbon economy” amid concerns about extreme weather

Climate change is going to have “quite an impact” on insurance companies, one Ontario politician said Thursday as MPPs from all three parties voted in favour of a motion affirming that climate change is caused by man-made greenhouse gas emissions. “Global warming is causing extreme weather events,” Liberal MPP Grant Crack (pictured) told his colleagues […]

By Canadian Underwriter | March 13, 2015

3 min read

Pacific Cyclone Pam hits Vanuatu, floods Kiribati Fallback Image Decorative pattern

Claims

Pacific Cyclone Pam hits Vanuatu, floods Kiribati

WELLNGTON, New Zealand – An extremely powerful cyclone blew over islands in the Pacific’s Vanuatu archipelago late Friday after a westward change of course put populated areas directly in the path of its destructive 270 kilometre- (168 mile-) per-hour winds, according to relief workers. The U.N. Office for the Coordination of Humanitarian Affairs said in […]

By Canadian Underwriter | March 13, 2015

2 min read

U.S. flood insurance claims from Storm Sandy to be reviewed by Federal Emergency Management Agency Fallback Image Decorative pattern

Claims

U.S. flood insurance claims from Storm Sandy to be reviewed by Federal Emergency Management Agency

TRENTON, N.J. – Federal Emergency Management Agency officials have agreed to reopen and review every flood insurance claim filed by Superstorm Sandy victims. The review will involve approximately 144,000 claims and not limit corrective action to 2,200 that are currently in litigation. The announcement comes following allegations of fraud involving the way some insurance companies […]

By Canadian Underwriter | March 13, 2015

1 min read