Claims
LIMA, Peru – The cost to poor countries of adjusting to ever-hotter temperatures will be twice or even three times higher than previously thought, the U.N.’s environment agency said Friday – and that assumes a best-case scenario in which greenhouse gas emissions are dramatically reduced. “If you don’t cut emissions, we’re just going to have […]
By Canadian Underwriter | December 5, 2014
3 min read
MANILA, Philippines – A ferocious and dangerously erratic typhoon blew closer to the Philippines on Friday, as differing forecasts about its path – one predicting it will graze the capital Manila – prompted a wide swath of the country to prepare for a weekend of destructive winds and rain. Typhoon Hagupit -Filipino for “smash” – […]
4 min read
MANILA, Philippines – Villagers in the central Philippines fled coastal homes and triggered panic-buying in grocery stores and gas stations as a fast-approaching powerful storm brought back nightmares of last year’s deadly onslaught of Typhoon Haiyan. Typhoon Hagupit – Filipino for “smash” – was packing sustained winds of 205 kilometres (127 miles) per hour and […]
By Canadian Underwriter | December 4, 2014
REGINA BEACH, Sask. – SaskEnergy says it is investigating two more possible gas leaks in a community north of Regina where a rupture is suspected in an explosion that levelled a home. The Crown utility says natural gas and water have been shut off in the suspect area in Regina Beach and no one is […]
By The Canadian Press | December 4, 2014
1 min read
SEOUL, South Korea – Some cybersecurity experts say they’ve found striking similarities between the code used in the hack of Sony Pictures Entertainment and attacks blamed on North Korea which targeted South Korean companies and government agencies last year. Sony is working with the FBI and Silicon Valley security firm FireEye to investigate the attacks […]
American aerial imagery and data analytics company EagleView Technology Corp. has formed a new group to look at the use of drones in the insurance and construction industries. The new Property Drone Consortium includes insurance carriers, construction industry representatives and the Insurance Institute for Business and Home Safety (IBHS) are among those participating to “promote […]
2 min read
Despite several recent disasters, the aviation industry’s safety record has improved over the long term, although new risks are presenting a threat to the industry, according to a new report from Allianz Global Corporate and Specialty. Currently, there are fewer than two deaths per 100 million commercial air passengers, a massive improvement over when the […]
The “polar vortex” phenomenon hitting the United States last month was among the natural disaster perils to strike during November, according to Aon Benfield’s Impact Forecasting arm’s latest global catastrophe recap report. The United States experienced four separate winter weather events during the month, including the first polar vortex of the season and a near […]
A late-November hailstorm affecting Brisbane and Southeast Queensland has resulted in 59,970 claims accounting for losses to date of $304 million (Australian dollars), the Insurance Council of Australia (ICA) reported this week. As of Dec. 2, ICA reports that total claims lodged by property and motor vehicle owners affected by the hailstorm included 15,020 for […]
The average claim payout following a cyber breach for surveyed insurers in the United States amounted to US$733,109, notes a study released Wednesday by NetDiligence, a cyber risk assessment and data breach services company. “The average claim payout for a large company was US$2.9 million, while the average payout in the healthcare sector was US$1.3 […]
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