Claims
Seven people have been arrested and more than $1 million in stolen automobiles have been recovered after a joint investigation into an alleged auto theft ring operating in Durham Region, York Region and Toronto, the Insurance Bureau of Canada said Tuesday. In recent months, investigators from IBC and Canada Border Services Agency (CBSA) identified and seized […]
By Canadian Underwriter | December 16, 2014
1 min read
GENEVA – The world is better prepared to face past calamities like the 2004 Indian Ocean tsunami but it’s not ready for the extreme weather of the future, the U.N.’s top natural disaster official said Tuesday. Margareta Wahlstrom, the special representative of the U.N. secretary-general for disaster risk reduction, said early warning systems like those […]
2 min read
The pricing of the latest offering from Nakama Re Ltd. has brought annual insurance-linked securities (ILS) issuance to a record level, with total property catastrophe bond issuance for 2014 reaching US$8.03 billion, notes global reinsurance intermediary and capital advisor Aon Benfield Securities. The US$8.03 billion excludes almost US$500 million in new issuance through private ILS […]
HALIFAX – Nova Scotia’s community services minister says there will be a review of the government’s policy around insurance settlements for those who have suffered catastrophic injuries. Joanne Bernard says the move is in response to the case of Joellan Huntley, a woman who was left unable to speak or walk following a car accident […]
By The Canadian Press | December 15, 2014
Commercial insurer XL Group plc announced Monday it has released its executive and corporate securities liability policy form, which provides for extensions of coverage for directors and officers. The policy form is intended to “protect companies and their directors and officers in an increasingly complex litigation and regulatory environment in the US and around the […]
By Canadian Underwriter | December 15, 2014
A Vancouver-based property developer and its president were sentenced Friday to fines of $10,000 each – and ordered to pay a conservation group $60,000 each – after being convicted under the federal Fisheries Act, after work was done on a residential property on the shore of Kamloops Lake, British Columbia. Canadian Press and Kamloops This Week reported […]
3 min read
RAYMORE, Sask. – A Canadian National Railway freight train has derailed near a town in central Saskatchewan. CN says 35 freight cars, including one carrying dangerous goods, left the tracks near Raymore Friday morning. CN spokesman Jim Feeny says no one was hurt and the crew reports that the one car caring isopropanol alcohol is […]
By The Canadian Press | December 12, 2014
NEW YORK – The correspondent most frequently seen on either ABC, CBS or NBC’s evening newscasts this year doesn’t work out of the White House or some overseas trouble zone. It’s Ginger Zee, ABC’s chief meteorologist. Weather is a big element of local news, but a story about the elements once had to be extraordinary […]
By Canadian Underwriter | December 12, 2014
Alcohol is behind 10.9% of fatalities in traffic accidents globally, according to a recent analysis from Munich-based insurer Allianz. The analysis is based on figures from the World Health Organization on road traffic accidents and alcohol. In eastern Europe and central Asia, 18.2% of road fatalities involved alcohol, followed by Europe at 16.2%, based on […]
Plans are under way at the National Hurricane Center (NHC) south of the border to employ an experimental storm surge watch/warning graphic as of the beginning of the 2015 hurricane season. The experimental watch/warning graphic – the concept of which is to be specific to the storm surge hazard – will be used to highlight […]
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