Claims
Christchurch City Council (CCC) in New Zealand is finally moving forward with a revaluation of more than 160,000 city properties, a long-awaited review that was delayed as a result of the Canterbury earthquakes in 2010 and 2011. The city-wide revaluation was scheduled for 2010, but the New Zealand government recently provided CCC permission to continue […]
By Canadian Underwriter | September 26, 2013
2 min read
Changes need to be made to the current property insurance product for it to be sustainable, especially in the wake of major flooding in Alberta, several industry participants agreed during a recent event held by the Insurance Brokers Association of Alberta (IBAA). On Sept. 12, the group held a forum on property insurance in Edmonton, […]
By Canadian Underwriter | September 25, 2013
NICC 2013 – Insurers have to put more effort into engaging with their policyholders and clearly outlining what their entire homeowner policy covers before a viable flood insurance program can work in Canada, says Kathy Bardswick, president and CEO of the Co-operators. While the home insurance product in Canada isn’t quite broken, it has become […]
NICC 2013 – Some of the contracts that large retailers are asking their third-party logistics providers to sign make it difficult for insurance carriers to underwrite the risks those logistics firms are taking on, a marine risk expert for a major commercial brokerage suggests. Third-party logistics (3PL) firms, which are increasingly used by companies to […]
4 min read
Swiss Re is among the organizations to accept the challenge and commit to supporting a network of member cities to build resilience to natural disasters and other risks. The announcement of a global commitment to action to the 100 Resilient Cities Centennial Challenge was made Tuesday by former U.S. president Bill Clinton during the opening […]
3 min read
CALGARY – Alberta will ask Ottawa to help pay for flood prevention projects in addition to the costs of the devastation caused by flooding that hit the province in June. “The ounce of prevention is worth a pound of cure and so investing in mitigation now saves us all money down the road,” Municipal Affairs […]
NICC 2013 – Catastrophe modelling firm AIR Worldwide will be launching an earthquake risk model for Canada next year, after it conducted a major analysis for a study commissioned by the Insurance Bureau of Canada. In June 2014, the firm will be releasing its earthquake model for Canada, including risk in British Columbia and Eastern […]
By Canadian Underwriter | September 24, 2013
Changing trends and the complexity of auto theft in the country, estimated to cost Canadians $600 million annually, demands the co-operation and involvement of many partners, notes a statement from the Insurance Bureau of Canada (IBC). On average, about 420 cars are stolen every day in Canada. These costs are reflected in resulting health care, […]
NICC 2013- A major earthquake is the most significant threat that the property and casualty insurance industry in Canada faces, and creating a dialogue with governments and consumers is critical for the industry’s continued solvency, the Insurance Bureau of Canada says. At the National Insurance Conference of Canada in Gatineau, Que. Monday, IBC’s senior vice […]
By Canadian Underwriter | September 23, 2013
STOCKHOLM, Sweden – Seeking to dispel any doubts over the credibility of their work, U.N. climate experts called their latest report an unbiased and reliable assessment of global warming as they presented it Monday to officials from 110 governments for a final review. The landmark report by the Intergovernmental Panel on Climate Change is expected […]
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