Claims
The Food and Agriculture Organization (FAO) of the United Nations is reporting that total crop losses in the wake of Typhoon Haiyan that hit the Philippines almost two weeks ago are estimated at US$110 million. “Official partial estimates indicate that some 153,495 hectares of rice paddy, maize and other high-value crops such as coconut, banana, […]
By Canadian Underwriter | November 20, 2013
3 min read
The Italian island of Sardinia, across the Tyrrhenian Sea from the mainland, received more than 440 millimetres of rain in 24 hours Monday, with rivers bursting banks, submersing homes and sweeping away cars. “The floods have carried away cars, submerged homes and caused bridges to collapse,” according to a press release Tuesday from the International […]
By Canadian Underwriter | November 19, 2013
2 min read
OTTAWA – Environment Minister Leona Aglukkaq arrived at a climate change conference in Warsaw late Monday amid exceedingly low expectations. A European report released to coincide with the United Nations conference ranks Canada 55th of 58 countries in terms of tackling greenhouse gas emissions, ahead of only Iran, Kazakhstan and Saudi Arabia. A Washington-based group, […]
The tornado outbreak that tore through the United States Midwest Nov. 17-18, reducing some areas to rubble, will likely rank as one of the top five most significant November outbreaks since 1950 and could become the country’s first billion-dollar severe weather event in November, notes a storm report issued Tuesday by catastrophe modelling firm RMS. […]
The Court of Appeal for Ontario ruled last week against ACE INA Insurance over legal costs associated with class action lawsuits arising from an explosion at a Toronto apartment building. Court records indicate the explosion occurred July 20, 2008, in an electrical vault owned by Toronto Hydro Corp., which had a primary policy, with a […]
By Canadian Underwriter | November 18, 2013
A number of windstorms and flooding events both north and south of the border underscore the need for broad property insurance protection, suggests a new white paper from ACE USA, the U.S.-based retail operations of ACE Group. “Recent extreme windstorms and flooding events – from Superstorm Sandy to the devastating floods that deluged Calgary and […]
WASHINGTON, Ill. _ As a powerful tornado bore down on their Illinois farmhouse, Curt Zehr’s wife and adult son didn’t have time to do anything but scramble down the stairs into their basement. Uninjured, the pair looked out moments later to find the house gone and the sun out “right on top” of them, Zehr […]
5 min read
Relatively low insurance penetration in the wake of Super Typhoon Haiyan means insurable losses are also expected to be relatively low – as much as US$700 million – against a backdrop of staggering property damage estimates ranging as high as US$14.5 billion, AIR Worldwide reports. In a statement Nov. 17, insured losses are estimated at […]
TRAVERSE CITY, Mich. – Federal agencies will provide better and more accessible information about matters such as long-term weather prospects and soil moisture levels under a program designed to help communities prepare for future droughts and respond more effectively when they happen, Obama administration officials said Thursday. The U.S. Department of Agriculture and the National […]
By Canadian Underwriter | November 15, 2013
Participants in an ongoing climate change conference in Warsaw are expected to recommend an “international institutional mechanism for loss and damages” from weather-related disasters, according to a United Nations document. The Conference of the Parties, which is the decision-making body of the Framework Convention on Climate Change, is currently holding its 19th conference in Warsaw. […]
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