Claims
In the aftermath of last year’s floods in southern Alberta, home and commercial insurance carriers are changing their policies, and a major reinsurer is calling on all stakeholders to come up with workable flood coverage. Jeff Burke, president and chief executive officer of Western Financial Group Inc., talked about his company’s experience last June in […]
By Canadian Underwriter | April 14, 2014
3 min read
FREDERICTON – Public Safety officials in New Brunswick are warning of possible flooding as the result of warm temperatures and a forecast of up to 25 millimetres of rain Tuesday into Wednesday. River Watch spokesman Richard Keeley said rising temperatures will lead to ice movement on the St. John River and other river systems across […]
By The Canadian Press | April 14, 2014
2 min read
BERLIN – The cost of keeping global warming in check is “relatively modest,” but only if the world acts quickly to reverse the buildup of heat-trapping gases in the atmosphere, the head of the U.N.’s expert panel on climate change said Sunday. Such gases, mainly CO2 from the burning of fossil fuels, rose on average […]
4 min read
Researchers at Colorado State University (CSU) have released a report predicting a below-average hurricane season for the Atlantic basin in 2014. Citing the likely development of an El Niño event and unusual cooling of the tropical and sub-tropical Atlantic, members of the CSU Tropical Meteorology Project team are calling for nine named storms during the […]
The Insurance Corporation of British Columbia has identified several thousand customers who have overpaid on their optional auto insurance because of incorrect vehicle descriptions. Overall, ICBC will be issuing refunds totaling around $36 million, plus $3 million in interest based on the B.C. Supreme Court interest schedule, it said in a statement Sunday. As part […]
BELLEVILLE, Ont. – Belleville’s firefighters are so busy helping with sandbagging efforts due to flooding that an outdoor burning ban has been brought in to help prevent fires. Deputy fire chief Bruce Greatrix says residents of rural areas around the city are normally allowed to set controlled fires to get rid of their yard waste […]
By Canadian Underwriter | April 13, 2014
COLUMBUS, Ohio – State geologists in Ohio believe they have for the first time linked earthquake activity in the Utica shale to hydraulic fracturing, and the state says it is issuing new permit conditions in seismic-sensitive areas. State Oil & Gas Chief Rick Simmers told The Associated Press on Friday that a state investigation of […]
By Canadian Underwriter | April 11, 2014
1 min read
Aon Benfield released Friday the 2013 financial results of its aggregate of 31 reinsurers, reporting a 3.4-point drop in the catastrophe loss ratio and a 46% increase in underwriting profit. “All (Aon Benfield Aggregate) companies generated underwriting profits on a calendar year basis in 2013, with catastrophe specialists RenaissanceRe and Montpelier Re reporting particularly strong […]
MANAGUA, Nicaragua – A strong earthquake damaged dozens of houses in western Nicaragua on Thursday, and authorities said that at least 23 people were injured by falling ceilings, beams and walls in one town. The 6.1-magnitude quake caused panicked Nicaraguans to run into the streets and callers to local radio stations complained that electricity and […]
The Australian Government Bureau of Meteorology (BOM) issued an advisory Wednesday that a severe tropical cyclone was threatening Queensland’s northern coast. Classified as a Category 3 storm, BOM reported Wednesday night (Australia time) that Ita was about 630 km northeast of Cooktown, Queensland, notes a statement from catastrophe modelling firm AIR Worldwide. It was expected […]
By Canadian Underwriter | April 10, 2014
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