Claims

Police lay charges against engineer in Elliot Lake mall roof collapse

ELLIOT LAKE, Ont. – A discredited engineer who declared a northern Ontario mall structurally sound just weeks before its roof caved in killing two women was charged Friday in what police described as a “challenging investigation.” Ontario Provincial Police said 64-year-old Robert Wood faces two counts of criminal negligence causing death andone count of criminal […]

By The Canadian Press | January 31, 2014

2 min read

Ex NY mayor Bloomberg chosen to be UN envoy for cities and climate change

New York’s former mayor Michael Bloomberg has been chosen by Secretary-General Ban Ki-moon to be a U.N. envoy for cities and climate change, U.N. diplomats said Friday. The diplomats spoke on condition of anonymity ahead of an official announcement which could come as early as Friday afternoon. Bloomberg served three terms as New York’s mayor […]

By Canadian Underwriter | January 31, 2014

2 min read

Chubb net income up, after lower losses in year following Sandy

The Chubb Corp. has reported a net income of $569 million for the fourth quarter of 2013, up from $102 million in the last quarter of 2012. For the full year, net income was $2.3 billion, compared to $1.5 billion for the year ended  Dec. 31, 2012.  Operating income totaled $2.1 billion in 2013 and […]

By Canadian Underwriter | January 31, 2014

2 min read

Quake Conundrum

The risk of a major earthquake in certain regions of Canada is real, according to geoscientists and catastrophe modelers. However, the awareness level of residents in vulnerable zones, as measured by take-up rates of private insurance, is low. Independent adjusters say that while it is difficult to truly prepare for a major earthquake in an urban area, there are some lessons that can be gleaned from recent events in Japan, New Zealand and Chile. The question looming ahead: will Canada be ready for the big one?

By Craig Harris, Freelance Writer | January 31, 2014

11 min read