Claims
The floods last June in southern Alberta are estimated by Swiss Re Ltd. as the third costliest disaster in 2013, when measured by insured losses. Swiss Re released Wednesday its preliminary Sigma estimates of insured losses from natural catastrophes and man-made disasters in 2013. The Swiss Re Sigma study, Natural catastrophes and man-made disasters in […]
By Canadian Underwriter | December 18, 2013
3 min read
Instability as a result of the “Arab Awakening” has increased the level of dynamic political risk for foreign investors in the Middle East and North Africa a significant amount, according to the 2014 Marsh-Maplecroft Political Risk Map. In the MENA region, more than 60% of countries have experienced a significant increase in the level of […]
By Canadian Underwriter | December 17, 2013
2 min read
LAC-MEGANTIC, Que. – Rail traffic is set to resume in Lac-Megantic on Wednesday, five months after a runaway train carrying crude oil derailed, exploded and killed 47 people. Mayor Colette Roy-Laroche says service will return on a gradual basis and that no dangerous substances will be transported through the Quebec town. Roy-Laroche told a news […]
By The Canadian Press | December 17, 2013
1 min read
Canadian Underwriter magazine and catastrophe modelling firm AIR Worldwide have partnered to offer a webinar on seismic risk in Canada. The webinar, Canada Earthquake Risk: From Science to Compliance, will also focus on the role that catastrophe models play in compliance with Guideline B-9 from the Office of the Superintendent of Financial Institutions (OSFI). The […]
By Canadian Underwriter | December 16, 2013
HIGH RIVER, Alta. – Deborah Huisman is still grieving the loss of 41 years of memories. She and her husband, Gerry, watched all of their belongings wash away when a wall of water hit their dream home in High River, Alta., in June. “You know people just say to us, ‘It is just stuff,’ but […]
5 min read
The United States National Oceanic and Atmospheric Administration (NOAA) recently announced it is taking comments from the public on proposed US$627 million plan, to be funded by BP Exploration and Production Inc., towards 44 restoration projects to address losses caused in 2010 by the Deepwater Horizon oil spill. On April 20, 2010, there was an […]
By Canadian Underwriter | December 13, 2013
An Ontario judge recently ruled against a property maintenance firm which is being sued by a resident who slipped, fell and injured his back, noting the property manager’s insurer initially advised the plaintiff there were no potential defendants in the case, other than the condo corporation and the property manager. Trevor Welch and Guylaine Dostie […]
By Canadian Underwriter | December 12, 2013
Ontario’s motor vehicle accident claims fund (MVACF) has an unfunded liability, no action has been taken since 2011 to address that liability and provincial officials estimate MVACF can only meet its financial obligations through the 2020-21 fiscal year, suggests the fall report of the Ontario Auditor General, released this week. “The Fund’s actuarial report shows […]
4 min read
WASHINGTON – The investigation into the crash-landing of an Asiana Airlines flight at San Francisco’s airport last summer has highlighted problems with cockpit culture and the trainee pilot’s lack of confidence in his ability to safely land the Boeing 777. Thousands of pages of investigative documents released during a National Transportation Safety Board hearing Wednesday […]
Insured losses from the storm that hit northern Europe last week will range between 700 million euros and 1.4 billion euros, catastrophe modelling firm AIR Worldwide said Thursday. The majority of losses from the storm, Xaver, will be in Denmark, Germany and the United Kingdom, although losses also occurred in the Netherlands, Belgium, Sweden and […]
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