Claims
Severe hail in central Europe in late July have caused losses of around $1.7 billion, with some estimates as high as $2 billion, making it one of the costliest hail events in Germany, according to catastrophe modeling firm AIR Worldwide. Several severe hail events occurred July 27 and 28, ahead of a low pressure system […]
By Canadian Underwriter | August 23, 2013
2 min read
Overall satisfaction with the property claims experience is stable, although satisfaction with the handling of claims from Superstorm Sandy declined substantially, according to the latest study from J.D. Power. The study is based on responses from about 2,500 homeowners insurance customers who made claims after April 1, 2012, measuring satisfaction based on settlement; first notice […]
Insured losses from a massive hail storm that moved through the Amarillo area of Texas in late May have reached $500 million, the state’s Insurance Council reported Friday. That figure was released by the Property Claim Services of the Insurance Services Office (ISO) which tallies catastrophic weather losses across the United States. Hail and wind […]
1 min read
California Governor Edmund Brown Jr. issued a proclamation of a state of emergency Thursday in response to a wildfire in Tuolumne County that has damaged natural resources, threatened homes and infrastructure and prompted evacuations. The wildfire is one of many currently ravaging parts of states, including California, Oregon, Idaho and Montana. A media report earlier […]
A Canadian Senate committee has released a report on transporting energy safely in the country, including a recommendation that Transport Canada apply “appropriate minimum liability coverage thresholds” to rail companies. The report from the Senate’s Standing Committee on Energy, the Environment and Natural Resources includes 13 recommendations for improving energy transport via tanker, pipeline and […]
By Canadian Underwriter | August 22, 2013
The Federal Emergency Management Agency in the United States is notifying consumers, particularly in Alaska, of the “substantial damage” issue that they could encounter when making claims through the National Flood Insurance Program (NFIP). Alaska experienced flooding this spring, and a major disaster declaration was made June 25. FEMA said in a statement this week […]
Nova Scotia or Newfoundland could see at least one tropical cyclone from September into early October, AccuWeather.com notes in a report released Wednesday. Sea surface temperatures of the northwest Atlantic remain well above normal, notes the report authored by Brett Anderson, a senior meteorologist for AccuWeather.com. As the hurricane season in the Atlantic becomes more […]
By Canadian Underwriter | August 21, 2013
The cost of natural disasters and their burden on the federal government is the country’s top public safety risk, Global News reported this week, based on documents it obtained through access to information laws. “What’s more, the government’s emergency response may not have the infrastructure to handle a large-scale event, and a federal program to […]
Flooding was the main driver in insured losses from natural catastrophes that amounted to US$17 billion for the first half of 2013, note preliminary sigma estimates released by Swiss Re. The global insurance industry covered US$20 billion of total losses in the first six months of 2013, notes a statement from Swiss Re. Of that […]
3 min read
The Financial Services Commission of Ontario (FSCO) has issued an advisory warning consumers that an individual called Mark Li Mosse is not licensed to do insurance business in the province. “FSCO has been informed that Mr. Li Mosse sold a false liability slip to a consumer,” the regulator said Tuesday. “The slip appeared to be […]
By Canadian Underwriter | August 20, 2013
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