Claims
LONDON – High winds, waves and tides were lashing Britain’s western coast Friday in a winter storm that flooded seaside towns and low-lying areas. Wales, southwest England and Northern Ireland were the worst-hit regions by the storm, the latest in a series of extreme winter conditions. Parts of northwestern France also suffered flooding. A combination […]
By Canadian Underwriter | January 3, 2014
1 min read
Germany’s insurance trade body has cautioned that prevention is more important than ever in the wake of flooding, hail and storm damage during 2013 that is expected to cost the country’s insurance industry almost 7 billion euros. Rarely does damage of such dimensions occur in so short a timeframe, notes a press release issued Monday […]
2 min read
HALIFAX – The first blizzard of 2014 is bearing down on Nova Scotia, causing flight cancellations and school closures as Atlantic Canadians bundle up against bone-chilling temperatures. Environment Canada says the worst is yet to come, with another 10 to 20 centimetres of snow expected Friday across Nova Scotia mixed with strong winds and causing […]
By The Canadian Press | January 3, 2014
Reinsurance carriers will face “headwinds” in 2014 as they are pressured to change contract conditions, while investors continue to buy cat bonds and the North Atlantic hurricane season was “virtually non-existent” in 2013, Willis Re Inc. stated in a report released Thursday. “Having successfully navigated a challenging year in 2013, reinsurers are faced with continuing […]
By Canadian Underwriter | January 2, 2014
TORONTO – Toronto officials say it will cost more than $75 million and take up to eight weeks to clean up the thousands of tree limbs that fell during the ice storm that hit the city. Coun. Denzil Minnan-Wong says about $25 million will be spent on cleanup and another $50 million to repair and […]
By The Canadian Press | January 2, 2014
CASSELTON, N.D. – A fiery oil train derailment’s near-miss of a small North Dakota town had its mayor angrily calling for federal officials to do more to guarantee the safety of the nation’s growing shipment of oil by rail. Government regulators defended their record on moving hazardous materials by rail, noting that 2012 was the […]
4 min read
As power workers continue to restore electricity in Eastern Canada after a pre-Christmas bout of freezing rain, some insurance carriers report having received a variety of claims arising from the ice storm, from burst water pipes to tree branches falling on vehicles. “The majority of the claims being filed are due to falling trees and […]
5 min read
HALIFAX – Nova Scotians are bracing for a nasty blizzard as a cold snap envelops the Atlantic provinces. Environment Canada says blowing snow is expected to begin later today over southwestern Nova Scotia. The storm will intensify overnight and spread eastward over the province Friday, dumping between 15 and 30 centimetres of snow in most […]
A sophisticated, real-world study confirms that dialing, texting or reaching for a cellphone while driving raises the risk of a crash or near-miss, especially for younger drivers. But the research also produced a surprise: Simply talking on the phone did not prove dangerous, as it has in other studies. This one did not distinguish between […]
Continued expansion of accessible capital, strong balance sheets and relatively low catastrophe losses were all drivers of the Jan. 1 renewal outcome, which saw reinsurance rates-on-line fall in almost all classes and regions, notes Guy Carpenter’s 2014 global renewal report. “It is the first renewal in over a decade where all major territories saw pricing […]
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