Claims
Insurance issues with three major recent earthquakes have included policies that do not cover code upgrades after a disaster, interdependency issues with contingent business interruption and allocating loss when there is more than one peril, suggests a new report by the British unit of brokerage and risk management firm Marsh LLC. Marsh U.K. published Tuesday […]
By Canadian Underwriter | February 19, 2014
3 min read
The final report including recommendations for improving Ontario’s dispute resolution system from auto insurance has been issued, following multiple consultations with stakeholders. The review of the DRS was delivered to the Ministry of Finance on Tuesday by J. Douglas Cunningham, a former associate chief justice at the Ontario Superior Court. Last November, Cunningham issued his […]
2 min read
CONCORD, N.H. – More snow is ahead on Wednesday for residents of northern New England, a day after a fast-moving storm brought about a foot 12 inches (30.5 centimetres) to many communities, but rain and warmer temperatures could threaten floods for other eastern states. A rain and snow mixture is possible Wednesday afternoon along the […]
OTTAWA – It is not at all clear that Transport Canada has the resources to approve, inspect and maintain current emergency response plans, let alone enough funding for a recommended expansion of the program, says a government-commissioned rail safety report. A working group made up of first responders, shippers of hazardous goods, oil and gas […]
4 min read
A report recently submitted to Transport Minister Lisa Raitt notes that shipments of crude oil by rail have “risen exponentially” in recent years and but that the federal organization responsible for guidance on transportation of dangerous goods may not have enough resources to maintain existing response plans. “Continuing budget reductions have had a major impact […]
By Canadian Underwriter | February 18, 2014
After facing the wettest January in England since 1776, the British government announced that four of its Cabinet ministers met Tuesday with executives from the Association of British Insurers (ABI), and from some of the major carriers, in order to ensure that the government and the industry are “fully co-ordinated” in helping people affected by […]
The Caribbean experienced a magnitude 6.5 earthquake early Tuesday morning, with an epicentre north of Barbados and east of Martinique in an area described as one of the most seismically active in the region. The quake occurred at 9:27 Greenwich Mean Time (3.27 a.m. Eastern Time) Feb. 18, according to the United States Geological Survey. […]
JAKARTA, Indonesia – Climate change may be the world’s ”most fearsome” weapon of mass destruction and urgent global action is needed to combat it, U.S. Secretary of State John Kerry said on Sunday, comparing those who deny its existence or question its causes to people who insist the Earth is flat. In a speech to […]
By Canadian Underwriter | February 16, 2014
The Co-operators General Insurance Company has reported decline in its net income for the last quarter of 2013 and the full year, after facing losses from several severe weather events, including December’s ice storm in Ontario and Quebec. For the fourth quarter, the Guelph, Ont.-based company reported a consolidated net income of $74.6 million, down […]
By Canadian Underwriter | February 14, 2014
Federal and state disaster aid to those affected by severe flooding in Colorado last September has passed more than $267 million, the Federal Emergency Management Agency said this week. Related: Most Colorado flood losses probably not insured while economic losses could exceed US$2 billion: EQECAT Roughly $219 million has come from disaster grants, flood insurance […]
1 min read
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