Claims
CALGARY – So far less than 10 per cent of Albertans who lost their homes in the June floods have decided to accept a government offer to buy them out. Of the 250 eligible people in the floodway zone, 22 have accepted the offer to move in exchange for cash. The cost of the buyouts […]
By The Canadian Press | October 28, 2013
1 min read
A total of 139 flood warnings or alerts remained in place Monday morning in the United Kingdom as a major Atlantic storm, bringing with it strong winds and rainfall, continued to make its way through the U.K. There were a total of 12 warnings – flooding is expected and immediate action is required – still […]
By Canadian Underwriter | October 28, 2013
4 min read
IBAO Convention 2013 – As Canada gets more extreme weather events, insurance brokers will have an even greater opportunity to give advice to residential customers about coverage for water damage, suggest the chief executive officers of some major Canadian carriers who sell through brokers. “I think that the issue of water damage becomes an opportunity […]
By Canadian Underwriter | October 25, 2013
Net income for the third quarter of the year was up slightly over the comparable period of 2012 for the Chubb Corporation, which reported $541 million for the period, compared with $533 million last year. Operating income for the company in Q3 was down slightly to $529 million this past quarter, from $533 million in […]
2 min read
The Co-operators General Insurance Company has reported a consolidated net loss of $37.9 million for the third quarter of the year, compared with a $12.6 million net income for the comparable quarter in 2012, citing this summer’s heavy rain storm as having a major impact on results. For the first nine months of the year, […]
CANBERRA, Australia – The government staunchly rejected arguments that climate change is causing the wildfires ravaging parts of eastern Australia following a record hot start to the spring season. “That is complete hogwash,” Prime Minister Tony Abbott told News Corp. Australian newspapers in an interview published on Friday. Environment Minister Greg Hunt backed his prime […]
3 min read
HALIFAX – Despite dire predictions to the contrary, the 2013 hurricane season is turning out to be a dud. With a little over a month left in the North Atlantic hurricane season, it’s now clear that the long-range U.S. forecasts issued in the spring – all calling for a high level of storm activity – […]
By Canadian Underwriter | October 24, 2013
SAN FRANCISCO – The governors of eight states including California and New York pledged Thursday to get 3.3 million zero-emission vehicles on roadways by 2025 in an effort to curb greenhouse gas pollution from transportation sources. Representatives from all eight states were scheduled to gather in Sacramento at 8:30 a.m. to sign a memorandum of […]
Insured damages from a severe storm that hit New Zealand in early September are estimated at $68 million, the Insurance Council of New Zealand said Wednesday. “About 7,000 claims worth over $15 million were settled for home and contents damage,” the ICNZ’s chief executive Tim Grafton noted in a statement. “Over $38 million in commercial […]
By Canadian Underwriter | October 23, 2013
Almost half of the respondents to a recent online survey in the United States would switch insurance companies if their personal information was stolen, reports Cincinnati-based Cintas Corporation. More specifically, 46% of respondents to the survey – conducted in late August by Harris Interactive on behalf of Cintas and involving 2,061 people 18 and older […]
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