Claims
NEW ORLEANS – The 2010 BP oil spill’s long-term effects on Gulf of Mexico sea life and coastal marches remains uncertain, an environmental expert testified Wednesday as federal attorneys laid out their case for penalties against the oil corporation that could hit $13.7 billion. Donald Boesch, a professor at the University of Maryland, testified for […]
By Canadian Underwriter | January 21, 2015
2 min read
MONTREAL – A deep chill that recently fell over Quebec left Yves Desjardins uneasy as his thoughts turned to the tragic blaze one year ago that swept through a seniors’ home, killing 32 people. The winds and chilly temperatures were reminiscent of the conditions that helped fuel the fire in L’Isle-Verte in January 2014 and […]
4 min read
Property and casualty insurers must work toward covering more catastrophes worldwide, or risk marginalizing the industry, one industry leader suggests. “This is a huge problem for our industry,” Phil Cook, CEO of Omega Insurance Holdings said during a presentation in Toronto on Tuesday. Related: Global disaster events cost insurers $34 billion in 2014: Swiss Re […]
By Canadian Underwriter | January 20, 2015
1 min read
Nearly 400 impaired drivers were caught on Saskatchewan roads during a province-wide traffic safety spotlight in December, SGI said Tuesday. In total, there were 381 offences related to alcohol or drug use while driving, including: Saskatchewan has a zero drug and alcohol tolerance policy for drivers under 19, and for all drivers in the Graduated Driver […]
UNION BEACH, N.J. – About 3,000 Superstorm Sandy victims who were either wrongly given storm recovery aid or who were overpaid would not have to repay the federal government under legislation to be introduced next week by two New Jersey Congressmen. U.S. Sen. Robert Menendez and U.S. Rep. Frank Pallone will introduce identical bills that […]
SARAJEVO, Bosnia – Heavy overnight rainfall has caused rivers to rise in the Sarajevo area on Monday and flood homes in the suburbs for the fifth time in the past 20 months. The city’s Civil Protection department said that about 100 homes were underwater. Rescuers evacuated an elderly woman, but complained that many residents refused […]
By Canadian Underwriter | January 19, 2015
A “relatively active” secondary market for catastrophe bonds last year helped support the primary market, while sponsors of cat bonds “brought perils and terms not seen in their previous transactions,” Aon plc’s reinsurance intermediary said in a recent report. With $5.5 billion in catastrophe bonds scheduled to mature during the first half of this year, […]
VANCOUVER – The power is back on in homes across British Columbia after harsh weather and strong winds left thousands in the dark. Mora Scott of BC Hydro says 30,000 customers reported an outage at the height of the storm on Sunday. She says powerful winds caused trees and branches to fall on hydro wires, […]
By The Canadian Press | January 19, 2015
PACHENA BAY , B.C. – The low tide, bright sunshine and constant roar of endlessly approaching waves display the full power of the wide-open Vancouver Island shoreline at the remote beach handed down to Stella Peters and her family as a wedding dowry. For generations, Peters and her relatives have been the keepers of Pachena […]
5 min read
WASHINGTON – For the third time in a decade, the globe sizzled to the hottest year on record, federal scientists announced Friday. Both the National Oceanic and Atmospheric Administration and NASA calculated that in 2014 the world had its hottest year in 135 years of record-keeping. Earlier, the Japanese weather agency and an independent group […]
By Canadian Underwriter | January 16, 2015
3 min read
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