Claims
Losses from windstorm Christian, which hit western and northern Europe in late October, are now pegged at 1.068 billion euros, PERILS AG said in an updated estimated this week. This second, revised estimate of the property insurance market loss compares to the first loss estimate of 994 million euros, which was issued by PERILS on […]
By Canadian Underwriter | January 28, 2014
1 min read
Aon Risk Solutions announced Tuesday it has released its annual terrorism and political violence map, which displays colour-coded ratings, of 200 countries and territories, on the risk of several perils to business, including terrorism, riots, insurrection and war. The map is meant to help organizations assess the risk of terrorism and political violence. There are […]
2 min read
Last year was the second most costly years for weather-related damage in New Zealand, with more than $174 million of insured costs, the Insurance Council of New Zealand reported Tuesday. “Last year was one of the most costly years for weather losses since the Insurance Council started tracking these losses on a regular basis back […]
WASHINGTON – Bipartisan legislation that would delay flood insurance premium hikes for hundreds of thousands of people living in coastal and low-lying areas appears set to clear its first hurdle in the Senate on Monday. The legislation would delay for up to four years premium increases set to phase in next year on homeowners facing […]
By Canadian Underwriter | January 27, 2014
3 min read
HIGH RIVER, Alta. – Residents and business owners affected by last June’s devastating flood in High River, Alta., are looking at a tax break. The town south of Calgary, with support from the Alberta government, has established a property tax relief program. Anyone whose property was severely damaged and who couldn’t occupy the premises for […]
By The Canadian Press | January 27, 2014
SAINT BASILE, N.B. – Another CN freight train has derailed in New Brunswick, the second to run off the tracks in the province this month. Local authorities say at least three cars derailed late Sunday night in the Edmunston-area parish of Saint-Basile in northwestern New Brunswick. The cars are lying on their side in a […]
Telematics is going to change the way auto insurance is offered, and the technology gives brokers plenty of opportunities to offer advice to consumers, according to speakers at Thursday’s P&C Crystal Ball conference who are using pilot versions of the technology to monitor reports on their own driving habits. “Telematics is going to change everything,” […]
By Canadian Underwriter | January 24, 2014
4 min read
Having complete and comprehensive data before running a catastrophe model is crucial when assessing earthquake risk, AIR Worldwide’s experts argue, reiterating a point stressed by the federal regulator in its recently-revised guideline on the issue. Uncertainty in data input creates uncertainty in modelling, David Lalonde, senior vice president in the consulting and client services group at […]
The Ontario government’s stance on auto insurance continues to inject uncertainty into the market and is one reason State Farm agreed to sell its Canadian operations to Desjardins Group, according to speakers at Thursday’s P&C Crystal Ball conference in Toronto. Alister Campbell, chief executive officer of The Guarantee Company of North America, was back at […]
CALGARY – There may still be plenty of snow on the ground, but flood forecasters are already looking ahead to the spring melt. David Sauchyn, a researcher with the Prairie Adaption Research Collaborative, says he expects many wet years ahead for Alberta. Sauchyn says the scientific evidence show that floods tend to be grouped together […]
By The Canadian Press | January 24, 2014
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