Claims
TOKYO – Rain-sodden slopes collapsed in torrents of mud, rock and debris Wednesday in the outskirts of Hiroshima, killing at least 36 people and leaving seven missing, police said. Public broadcaster NHK showed rescue workers suspended by ropes from police helicopters pulling victims from the rubble. Others gingerly climbed into windows as they searched for […]
By Canadian Underwriter | August 20, 2014
2 min read
Insured damage from heavy rains and high winds across southern Saskatchewan and Manitoba in late June and early July is estimated at $60 million, according to Property Claim Services (PCS), the Insurance Bureau of Canada reported Wednesday. “The flooding, wind damage and transportation disruptions caused by these storms disrupted people’s lives and businesses,” Bill […]
HALIFAX – Nova Scotia Power says higher than forecast winds in areas with an abundance of roadside trees were among the challenges it faced in restoring electricity to tens of thousands of customers following post-tropical storm Arthur. The power company filed a report to the province’s Utility and Review Board today outlining its response to […]
By The Canadian Press | August 19, 2014
1 min read
The Supreme Court of Canada recently dismissed an application, from Lombard General Insurance Company of Canada, for leave to appeal a court ruling against Lombard over the limitation period on claims under the Ontario auto family protection endorsement. In July 2006, Eckhart Schmitz was hit by a car driven by Ervin Bakonyi, according to court […]
By Canadian Underwriter | August 19, 2014
Just 7% of homeowners in the United States have earthquake insurance despite updated maps from the U.S. Geological Survey (USGS) showing that some areas of the country are at risk of earthquakes and the potential associated costs are also on the rise, reports the Insurance Information Institute (III). The potential cost of earthquakes is growing […]
3 min read
WASHINGTON – Man-made earthquakes, a side effect of some high-tech energy drilling, cause less shaking and in general are about 16 times weaker than natural earthquakes with the same magnitude, a new U.S. study found. People feeling the ground move from induced quakes – those that are not natural, but triggered by injections of wastewater […]
Diversity reigns when it comes to stolen cars in the United States, with the National Insurance Crime Bureau (NICB) reporting Monday that there is a 50-50 split between domestic and import vehicles. NICB’s annual Hot Wheels report – which identifies the 10 most stolen vehicles in the U.S. and determines the vehicle make, model and […]
By Canadian Underwriter | August 18, 2014
CALGARY – Some of the world’s costliest energy projects are in Alberta’s oilsands and some could be cancelled without higher oil prices, according to a new report by a London-based financial think-tank that focuses on climate risk. The study by the Carbon Tracker Initiative highlighted 20 of the biggest projects around the world that need […]
Hurricane forecasters are predicting “below-average hurricane activity for the remainder of the 2014,” due in part to cooler-than-average ocean temperatures on part of the north Atlantic, Willis Re. Inc. suggested in a recent report. “U.S. landfall probability estimates continue to be low this year, though caution should be exercised due to a recent run of […]
WINNIPEG – Manitoba’s Finance Ministry has issued a special warrant to allow extra spending this fiscal year to cover the costs of recent flooding. The warrant provides an additional $100 million. The government says costs for flood-related infrastructure repairs are still being assessed, but at this point spending is still being covered under the existing […]
By The Canadian Press | August 18, 2014
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