Claims
The Institute for Catastrophic Loss Reduction will be hosting a special webinar on July 3 on the recent tornado that struck Angus, Ont. Dr. Gregory Kopp, a professor of civil engineering with Western University, will discuss the observed damage, which was primarily to residential structures, caused by the EF-2 rated tornado that hit the town […]
By Canadian Underwriter | June 23, 2014
2 min read
REGINA – Saskatchewan’s Water Security Agency is warning that flooding is likely on low-lying agricultural land downstream of Gardiner Dam. The agency says heavy rainfall in Alberta is now flowing into Saskatchewan and the outflow from the dam needs to increase so that Lake Diefenbaker doesn’t exceed the full supply level. Flows on the South […]
By The Canadian Press | June 23, 2014
1 min read
Manitoba’s compulsory auto insurance carrier has reported an underwriting loss of nearly $220 million in the fiscal year ending Feb. 28, 2014, as the total claims cost increased 15% from the previous year. Manitoba Public Insurance Corp. reported in its annual report that its net claims in 2013-14 were $861.1 million, up 15% from $746.5 […]
A slight majority of the members of a United States House of Representatives committee voted Friday in favour of a bill that, if passed into law, would extend the Terrorism Risk and Insurance Act until the end of 2019 and would increase the program trigger from US$100 million to US$500 million. TRIA was first made […]
By Canadian Underwriter | June 20, 2014
3 min read
The Province of Ontario should consider changing to building code to require more backup electrical power than is currently required, while the City of Toronto should work with the local electrical utility to increase guidelines on the clearance between tree canopies and electricity distribution cables, a review panel suggests. The Toronto Hydro Independent Review Panel […]
4 min read
Insured losses from lightning strikes to homes in the United States were at their lowest level in a decade last year, mainly because of persistent dry weather throughout the western half of the country, the Insurance Information Institute said this week. The National Weather Service in the U.S. recorded 137 days in 2013 with lightning […]
SOFIA, Bulgaria – At least 12 people died and an unknown number were missing after heavy rain and floods hit parts of northeastern Bulgaria, officials said Friday. Interior Minister Tsvetlin Yovchev confirmed that 10 bodies, including two children, were recovered from floodwaters in the worst-hit Black Sea resort town of Varna. It was unclear how […]
The Alberta government says as many as 500 homes have experienced some sort of flooding because of heavy rains in the southwestern part of the province. But there was good news Thursday – forecasters say the storm that has soaked the area for most of the week was weakening. “At this point, the storm is […]
By The Canadian Press | June 20, 2014
The Allstate Corp. announced Thursday its catastrophe losses in May were US$440 million before tax, 78% of which were from three severe weather events. “Catastrophe losses occurring in May comprised eleven events at an estimated cost of $400 million, pre-tax, plus unfavorable reserve reestimates of prior reported catastrophe losses,” Northbrook, Ill.-based Allstate stated in a […]
By Canadian Underwriter | June 19, 2014
More than 100 people on the Blood reserve in southern Alberta are out of their homes because of flooding, but officials hope the worst has passed. Reserve spokesman Rick Tail Feathers says the Belly River, one of three rivers that border the reserve, has crested and hopefully will start to recede. Tail Feathers says there […]
By The Canadian Press | June 19, 2014
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