Claims
LA HABRA, Calif. – Experts say a bigger earthquake along the lesser-known fault that gave Southern California a moderate shake could do more damage to the region than the long-dreaded ”Big One” from the more famous San Andreas Fault. The Puente Hills thrust fault, which brought Friday night’s magnitude-5.1 quake centred in La Habra and […]
By Canadian Underwriter | March 30, 2014
3 min read
DETROIT – For years, the U.S. government’s auto safety watchdog sent form letters to worried owners of the Chevrolet Cobalt and other General Motors small cars, saying it didn’t have enough information about problems with unexpected stalling to establish a trend or open an investigation. The data tell a different story. An Associated Press review […]
By Canadian Underwriter | March 28, 2014
8 min read
Ontario politicians from both the Progressive Conservative and New Democratic Party suggested this week will not stop the ruling minority Liberals’ latest auto insurance bill from going to committee, but the opposition is expressing strong reservations about the proposed changes to the dispute resolution system. Bill 171, the “Fighting Fraud and Reducing Automobile Insurance Rates […]
4 min read
The 50th anniversary of the Great Alaskan Earthquake this week highlights the current risk faced in Canada and worldwide of a catastrophic earthquake, the Insurance Bureau of Canada said Friday. The three-minute earthquake triggered a tsunami, causing ground fissures and collapsing structures on Vancouver Island, IBC noted. The quake was the most powerful recorded in recent […]
1 min read
Emergency Management BC is not prepared should a catastrophic earthquake occur in British Columbia, a new report from the province’s auditor general has concluded. Auditor General Russ Jones also found that neither the province nor EMBC has made preparing for a catastrophic earthquake a priority. The report echoes conclusions from the Office of the Auditor […]
By Canadian Underwriter | March 27, 2014
2 min read
A turn in the weather last year proved enough to undermine the performance of the insurance industry, Gregor Robinson, senior vice president of policy and chief economist for the Insurance Bureau of Canada (IBC), said during Swiss Re’s 29th Annual Canada Outlook Breakfast in downtown Toronto Thursday. “For 2013, results have been down significantly from […]
Federal politicians debated this week a proposed law that would increase the absolute liability for offshore oil and gas companies, as well as nuclear operators, to $1 billion. Bill C-22, the Energy Safety and Security Act, was tabled in January by then-Natural Resources Minister Joe Oliver. On Wednesday, Greg Rickford – who replaced Oliver last […]
HALIFAX – Thousands of people in Atlantic Canada were without power early Thursday after a powerful spring storm brought crippling winds and heavy snowfall to the region Wednesday. Howling winds pulled down power lines across the Maritimes, leaving about 16,000 Nova Scotians in the dark at one point. Outages also affected about 2,400 customers in […]
By The Canadian Press | March 27, 2014
Lloyd’s of London released Wednesday the financial results of the Lloyd’s market for calendar year 2013, reporting a combined ratio of 86.8% on gross written premiums of £26.489 billion, with the Alberta floods from June being the most costly event for the Lloyd’s market last year. The annual report reflects the results of both the […]
By Canadian Underwriter | March 26, 2014
CN has announced plans to phase out DOT-111 tank cars over the next four years as part of its ongoing efforts to strengthen the company’s safety management system (SMS) and improve transportation of dangerous goods. “We have developed a comprehensive work plan to bolster our overall safety performance and to enhance our strong record of […]
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