Claims
DAVOS, Switzerland – Leaders gathered in the Swiss ski resort of Davos are pushing for nations worldwide to shift to cleaner energy sources as the best way to contain global warming and re-energize the global economy. U.N. climate chief Christiana Figueres, reflecting the top billing that climate change has in Davos this year, said the […]
By Canadian Underwriter | January 22, 2014
2 min read
PORTLAND, Maine – The Maine-based railway that went bankrupt after a fiery oil train derailment killed 47 people last summer in Lac-Megantic, Que., was sold at auction Tuesday to a subsidiary of a New York City-based investment management company. Railroad Acquisitions LLC, a subsidiary of Fortress Investment Group, won the closed-door bidding for Montreal, Maine […]
It has been 38 years since the world has had a year of cooler-than-average temperatures, while 2013 was either the fourth or the seventh warmest year since 1880, depending on which United States government agency figures are used. 2013 is tied with 2009 and 2006 as the seventh warmest year since 1880, according to a […]
By Canadian Underwriter | January 21, 2014
4 min read
HARTFORD, Conn. – Worried about the groom getting cold feet? There’s an insurance policy for that. With the cost of the average American wedding reaching about $26,000, insurers have been selling a growing number of policies to protect against losses from extreme weather, illness and, in one firm’s case, even a sudden change of heart. […]
3 min read
British Columbia has a history as Canada’s hub of seismic activity, with fully half of the country’s top 10 temblors taking place in that province. Here are the five most significant earthquakes to hit the area: 1700: When a quake believed to have a magnitude of nine rolled through B.C.’s Cascadia Subduction Zone, the technology […]
By The Canadian Press | January 21, 2014
Allianz Capital Partners (ACP) invested 400 million euros to acquire nine wind parks in Europe last year for the Allianz insurance companies, the group announced this week. Allianz most recently acquired the operational 24-megawatt Cottbuser See wind farm in Brandenburg, Germany. Including that purchase, Allianz’s total commitment to renewable energy is around 1.75 billion euros, […]
1 min read
The Travelers Companies Inc. released Tuesday its financial results for the quarter ending Dec. 31, reporting an increase in premium revenue due in part to The Dominion of Canada General Insurance Company acquisition. Travelers also recorded a 17-point drop in its fourth-quarter loss ratio, a 20% year-to-year drop in fourth-quarter claims and adjustment expenses, a […]
WINNIPEG – Manitoba is calling on the federal government to invest heavily to flood-proof reserves as the cost of caring for hundreds of aboriginal flood evacuees tops $90 million. Emergency Measures Minister Steve Ashton says Ottawa should spend millions upgrading chronically flooded native land to save money down the road. Many First Nations were historically […]
VANCOUVER – New research is shaking up the entire notion of what could happen to the Vancouver area during an earthquake, indicating bridges and tall buildings would rattle and sway a whole lot more than previously thought. Two studies published Monday in the Bulletin of the Seismological Society of America show that seismic waves are […]
An Ontario court recently awarded $107,765 to a women who broke her upper arm at the rotator cuff after stubbing her toe, tripping and falling on a city sidewalk in Caledonia, Ontario, southwest of Hamilton. In a decision released Jan. 17, the Ontario Superior Court of Justice found the combined total of general damages, future […]
By Canadian Underwriter | January 20, 2014
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