Claims
VICTORIA – Waking up to the sound of rushing water in the house can be pretty unnerving. For Madeleine Bragg and her husband Mike, they faced a flooded basement. “Mike gets up at 5 a.m. to go to work and he heard this sound like a waterfall. He opened the door to the stairs and […]
By Canadian Underwriter | January 24, 2014
3 min read
L’ISLE-VERTE, Que. – A Quebec village was jolted awake Thursday to the chaos of people scrambling to free neighbours from a seniors’ residence as wind-fuelled flames rushed to swallow the building. Pascal Fillion, who lives near the seniors’ home in L’Isle-Verte, said he ran outside to find a group of locals and firefighters already […]
8 min read
WASHINGTON – Warning that a “major loss of life” could result from an accident involving the increasing use of trains to transport large amounts of crude oil, U.S. and Canadian accident investigators urged their governments Thursday to impose new safety rules. The unusual joint recommendations by the U.S. National Transportation Safety Board and the Transportation […]
By Canadian Underwriter | January 23, 2014
Homeowners are reminded to take steps to avoid ice dams, notes SGI Canada, which reports there were 2,600 ice dam claims reported to the insurer in 2013, dwarfing the 28 claims in 2012. The 2,600 ice dam claims last year in Saskatchewan cost $21.7 million, notes a press release Thursday from SGI Canada. Preventive maintenance […]
2 min read
The Federal Emergency Management Agency (FEMA) will provide approximately $5 million to two electric co-operatives in North Dakota to help cover the costs of repairs in the wake of an early-winter storm last October. Federal disaster aid totalling just shy of $4 million has been made available to Mor-Gran-Sou Electric Cooperative to restore power lines […]
OTTAWA – The Transportation Safety Board is calling for better protection standards for tanker cars used to haul flammable liquids by rail. Acting in the aftermath of the deadly Lac-Megantic disaster, the board is recommending that so-called DOT-111 cars used to carry oil and other flammable liquids meet tougher enhanced protection standards. The recommendation will […]
By The Canadian Press | January 23, 2014
1 min read
The insurance-linked securities market continued to grow in 2013, though new issuances were not as large last year as they were in 2007, according to a new report by Swiss Re Capital Markets Corp. “For the second year in a row the new issuance ILS market climbed to its 2nd largest yearly total,” Swiss Re […]
By Canadian Underwriter | January 22, 2014
The United Nations Office for Disaster Risk Reduction (UNISDR) and two major insurance industry players have partnered on a proposal for new catastrophe risk financing for the Philippines, after last fall’s Typhoon Haiyan caused $13 billion in economic losses. “The Philippines is hit by over 20 typhoons every year,” Margareta Wahlström, head of the UNISDR […]
OTTAWA – Municipal leaders say they are making headway with the federal government on rail safety issues, but would like to see emergency response assistance plans for the transport of crude oil and ethanol. Transport Minister Lisa Raitt met today with the Federation of Canadian Municipalities in Ottawa, the latest meeting of a rail safety […]
By The Canadian Press | January 22, 2014
The Financial Services Commission of Ontario (FSCO) has announced the phased implementation of its arbitration electronic scheduling system, part of ongoing efforts to make dispute resolution services for auto insurance more efficient. Arbitration eCalendar allows parties to receive legal notices of proceedings from FSCO electronically, book arbitration pre-hearings and settlement discussions and manage their files […]
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