Claims
The federal government’s announcement Tuesday that it plans to consult with the industry for a “national approach to residential flood insurance” and to start funding projects such as flood control infrastructure in 2015, has been well received by the Insurance Bureau of Canada. Finance Minister Jim Flaherty tabled the 2014-15 federal budget Feb. 11. In […]
By Canadian Underwriter | February 12, 2014
3 min read
ATLANTA – Across the South, winter-weary residents woke up Wednesday to a region encased in ice, snow and freezing rain, with forecasters warning that the worst of the potentially “catastrophic” storm is yet to come. From Texas to the Carolinas and the South’s business hub in Atlanta, roads were slick with ice, tens of thousands […]
4 min read
TOKYO – Toyota is recalling 1.9 million hybrid Prius cars globally for a software glitch that could cause the vehicle to stall. Toyota Motor Corp. said Wednesday that 997,000 Prius cars in Japan, some 713,000 in North America, another 130,000 in Europe and the rest in other regions are being recalled for a problem in […]
1 min read
BEIJING – A powerful earthquake struck a sparsely populated area of China’s far western region of Xinjiang on Wednesday, damaging some houses, though no casualties were reported. The U.S. Geological Survey said the magnitude-6.9 quake was centred 268 kilometres (167 miles) east-southeast of Hotan at a depth of 10 kilometres (6.2 miles). The China Earthquake […]
2 min read
LONDON – Britain’s west coast is being battered by wind gusts that could reach 100 mph (160 kph) as a new storm pummels the flood-stricken country. The Meteorological Office has issued a highest-level red warning of “exceptionally strong winds” for west Wales and northwest England. It says gusts of between 80 and 100 mph could […]
QUEBEC – Ottawa has agreed to lift the ceiling on the amount of money it will allocate to the decontamination and rebuilding of Lac-Megantic, the Quebec government announced Tuesday. The agreement provides for Ottawa to assume 50 per cent of admissible expenses, with Quebec paying for the other half. The total costs incurred in last […]
By The Canadian Press | February 12, 2014
Tornadoes that hit Oklahoma last May contributed to the state seeing the highest costs for natural disaster-related insurance payouts in 2013, the Insurance Information Institute said Tuesday. “Oklahoma’s policyholders received nearly $2 billion from their insurers in 2013 after multiple, deadly tornadoes struck Oklahoma, changing forever communities such as Moore,” Dr. Robert Hartwig, president of […]
By Canadian Underwriter | February 11, 2014
YORKTON, Sask. – The Saskatchewan government will spend $165.5 million on its crop insurance program in the coming fiscal year. That is down from $198 million this year, due in part to lower forecasted crop prices. The program in 2014 will include some changes, including a bee mortality program and yield loss coverage for corn […]
By The Canadian Press | February 10, 2014
MELBOURNE, Australia – Scores of wildfires raging across southeast Australia in dry and windy summer conditions have destroyed 20 homes and injured a firefighter, authorities said Monday. Victoria state Country Fire Authority chief officer Euan Ferguson said 20 homes had been destroyed in the state by blazes that peaked late Sunday. The toll could rise […]
By Canadian Underwriter | February 10, 2014
LONDON – The River Thames has burst its banks after reaching its highest level in years, flooding riverside towns upstream of London. Residents and British troops had piled up sandbags to protect properties from the latest bout of flooding but the river overwhelmed their defences Monday, leaving areas including the centre of the village of […]
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