Claims
The severe hailstorm that hit Airdrie, Alberta August 7 caused an estimated $450 million in insured damage, according to Insurance Bureau of Canada (IBC) and Property Claim Services (PCS). The intense storm hit Airdrie and surrounding areas, including Rocky Mountain House and Red Deer, with heavy rains and large hail. “While the frequency and severity […]
September 30, 2014
1 min read
As members were returning home from CIAA’s 30th Annual General Meeting and Conference, the acquisition of Granite Claims Solutions by a non-member firm was announced, placing the association in the precarious position of potentially dealing with the magnitude of losing many loyal and long standing members. We are grateful for David Porter’s role in steering […]
By Albert Poon, President, Canadian Independent Adjusters' Association | September 30, 2014
2 min read
WASHINGTON – Scientists looking at 16 cases of wild weather around the world last year see the fingerprints of man-made global warming on more than half of them. Researchers found that climate change increased the odds of nine extremes: Heat waves in Australia, Europe, China, Japan and Korea, intense rain in parts of the United […]
By Canadian Underwriter | September 29, 2014
The clean-up costs alone of major spills in certain areas – such as British Columbia or Alberta – could be in the tens of millions of dollars, demanding that the mining companies have in place appropriate coverages, suggests a report from Marsh. Since October 2013, there have been four high-profile environmental incidents in the North […]
3 min read
A recent catastrophe bond transaction between Willis Capital Markets & Advisory (WCMA) and State Compensation Insurance Fund (SCIF) illustrates how investors are welcoming well-structured deals in the changing insurance-linked securities (ILS) landscape, suggests Tony Ursano, CEO of WCMA. WCMA – part of global risk advisor, insurance and reinsurance broker Willis Group Holdings plc – has […]
CALGARY – The province has announced new measures to clear up claims from last year’s catastrophic floods in southern Alberta. Steps will also be taken to prevent future disasters. Premier Jim Prentice, speaking in Calgary, announced that the current staff of six flood claims adjudicators will be increased to 18 to clear up all cases […]
By The Canadian Press | September 26, 2014
There is a need to shift focus by resetting the balance between preventing the worst impacts of a disaster in Australia and paying increasing bills for recovery and rebuilding, suggests the Productivity Commission’s draft report into Natural Disaster Funding Arrangements. “Australian governments have traditionally been too focused on handing out billions of dollars in an […]
By Canadian Underwriter | September 26, 2014
VERMILION, Alta. – Canadian National Railway freight train cars have derailed in east central Alberta. CN says 17 freight cars carrying peas derailed Thursday night east of Vermilion. Jim Feeny, a CN spokesman, says there were no injuries and there are no dangerous goods on the derailed freight cars. The derailment has forced the closure […]
San Francisco will become the first city to use RMS models and technology as part of a new partnership between RMS and 100 Resilient Cities (100RC), pioneered by The Rockefeller Foundation. Announced at the 2014 Clinton Global Initiative Annual Meeting this week, the partnership will allow cities in 100RC Network to access the RMS exposure […]
BILLINGS, Mon. – The oil industry’s lead trade group released new standards on Thursday for testing and classifying crude shipped by rail after prior shipments were misclassified, including a train that derailed in Canada and killed 47 people. But as with earlier orders from the federal government, the industry’s standards generally leave it to individual […]
By Canadian Underwriter | September 25, 2014
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