Claims
WASHINGTON – Global warming is rapidly turning America into a stormy and dangerous place, with rising seas and disasters costing citizens from flood-stricken Florida to the wildfire-ravaged West, according to a new U.S. federal scientific report. Climate change’s assorted harms “are expected to become increasingly disruptive across the nation throughout this century and beyond,” the […]
By Canadian Underwriter | May 6, 2014
4 min read
The Insurance Council of Texas says there has been a steady stream of hail-damaged automobiles pouring into auto body repair shops in north Texas following the April 3 hailstorm in Denton and nearby cities. With the number of homes that received hail damage also continuing to rise, the council notes in a statement that it […]
By Canadian Underwriter | May 5, 2014
1 min read
Homeowners and private passenger auto lines are exerting the greatest impact on the reserve cycle, suggests an updated analysis on industry reserves released last week by Guy Carpenter & Company LLC. The analysis is based on 2013 annual statutory statements, notes a statement from Guy Carpenter, a global provider of risk and reinsurance intermediary services, […]
2 min read
BANGKOK, Thailand – A strong earthquake shook northern Thailand and Myanmar on Monday evening, smashing windows, cracking walls and roads and damaging Buddhist temples. No casualties were reported. The airport in Chiang Rai, a northern Thai city near the epicenter of the 6.1-magnitude temblor, evacuated people from its terminal, where display signs and pieces of […]
3 min read
NEW YORK – Target’s massive data breach has now cost the company’s CEO his job. Target announced Monday that Chairman, President and CEO Gregg Steinhafel is out nearly five months after the retailer disclosed the breach, which has hurt its reputation among customers and has derailed its business. The nation’s third-largest retailer said Steinhafel, a […]
TOKYO – A strong earthquake jolted Tokyo early Monday, rattling windows and nerves though there were no initial reports of major damage. The national broadcaster NHK, citing local authorities, said 17 people were reported injured, some of them from falls as the quake struck. The Japan Meteorological Agency said the quake at 5:18 a.m. local […]
Storms and flooding in the Canterbury area of News Zealand in February and March caused insured losses of about $25 million, the Insurance Council of New Zealand said this week. “The most damaging of the storms was that on 4-5 March when $21.9 million of damage occurred. While this storm system also hit Wellington and […]
By Canadian Underwriter | May 2, 2014
FREDERICTON – A disaster financial assistance program has been announced for homes and businesses affected by flooding this spring in New Brunswick. Provincial Public Safety Minister Bruce Northrup says the maximum assistance for structural repairs to private homes is $120,000, while small businesses and not-for-profit organizations can qualify for up to $500,000 assistance. Northrup says […]
By The Canadian Press | May 2, 2014
LYNCHBURG, Va. – Across the state on the same rail line where a train loaded with highly combustible crude oil derailed, a fire chief sees the potential for a nightmare scenario: A blaze his crews don’t have the means to put out, threatening a colonial-era tourist attraction and one of the nation’s oldest institutions of […]
DETROIT – General Motors is recalling more than 50,000 luxury SUVs to fix a computer error that can delay acceleration for three or four seconds. The recall affects some Cadillac SRX SUVs from the 2013 model year with 3.6-litre V6 engines. GM says in documents filed with U.S. safety regulators that the problem happens when […]
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