Claims
The New York government is asking some insurers that operate in the state what steps they take to protect their clients and themselves from cyber threats. On Tuesday, the Department of Financial Services (DFS) sent “308 letters” to large insurance companies that it regulates, requesting information on their cyber security policies and procedures. The “308 […]
By Canadian Underwriter | May 29, 2013
2 min read
The Institute for Catastrophic Loss Reduction will be hosting a workshop on hurricanes in the Canadian context, including an outlook for this year’s Atlantic hurricane season, as part of its ongoing monthly education series. The June 14 presentation will include information on tropical cyclones and provide understanding how they behave in Canada from Bob Robichaud, […]
By Canadian Underwriter | May 28, 2013
1 min read
Swiss Re Capital Markets has structured and transferred $175 million of insurance-linked securities covering named storms and earthquake losses in North America, the Caribbean and Mexico on behalf of a subsidiary of Allianz SE. The securities were issued by a Bermuda-based special vehicle, Blue Danube II Ltd., on behalf of Allianz Argos 14 GmbH, a […]
By Canadian Underwriter | May 27, 2013
Law enforcement officials in Saskatchewan issued a total of 356 tickets for traffic violations, including impaired driving, during a two-day safety blitz earlier this month. On May 8 and 9, officials participated in Operation Overdrive, targeting impaired driving, and a Selective Traffic Enforcement Program (STEP) event in the city of Weyburn, targeting seatbelt, cellphone use […]
The National Oceanic and Atmospheric Administration out of the United States has forecast a below average hurricane season for both the Central and Eastern Pacific regions, in contrast to its prediction of an active Atlantic season. For 2013, the NOAA has forecast a 70% chance of a below-normal season for the Central Pacific, a 25% […]
3 min read
Consumers affected by the tornado and severe storms in central Oklahoma need time to recover and holding off on all insurance non-renewals, cancellations and terminations will offer some small comfort in that regard, John Doak, Oklahoma’s insurance commissioner said Friday. Doak has called for the moratorium for affected areas following the tornado and devastating storms […]
Insured property losses are expected to range from $2 to $5 billion for a storm system that moved across central United States from May 18 to May 20, according to EQECAT. The tornado that tore through Moore, Okla. has caused damage to approximately 13,000 structures and is where the bulk of the losses are expected, […]
By Canadian Underwriter | May 24, 2013
Cargo theft is on the rise in Canada, although the United States remains one of the countries most at risk for that crime, according to a recent report from FreightWatch International. The U.S. reached a new record for cargo theft activity last year, with 946 theft incidents, according to analysis from FreightWatch, which offers logistics […]
Public transit systems in the northeastern United States that were damaged and flooded by the storm resulting from Hurricane Sandy will get a total of $5.7 billion in federal disaster relief funds to recover from the storm and to better prepare them for future floods. The U.S. Department of Transportation announced Thursday that four transit […]
Environment Canada is urging the public to be prepared for hurricane season, as this year’s outlook has forecasted 13 to 20 named storms. Seven to 11 of those storms could become hurricanes, including three to six major hurricanes (Category 3, 4 or 5), the Canadian Hurricane Centre (CHC) said Friday, echoing the outlook report from […]
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