Claims
Arctic sea ice reached its minimum extent for the year on Sept. 16 to smaller than 3.5 square kilometres, the lowest seasonal minimum extent on record since 1979, the National Snow and Ice Data Center in the United States has reported. The ice extent will grow during the autumn and winter, but shifting wind patterns […]
By Canadian Underwriter | September 21, 2012
1 min read
Guy Carpenter and Company and the University of Manitoba have partnered to create a new research chair at the school’s Warren Centre of Actuarial Studies, part of the Asper School of Business. The Guy Carpenter Chair in Agricultural Risk Management and Insurance is expected to benefit the agricultural industry and teach actuarial students about the […]
By Canadian Underwriter | September 19, 2012
The wildfire season in the western United States this year could potentially be one of the worst on record for the region, despite it not yet being over, one research group says. The new Climate Central report, The Age of Western Wildfires, also suggests that the major impact of wildfires in 2012 will likely be […]
B.C. residents have one more month to prepare for The Great British Columbia ShakeOut, a province-wide earthquake preparedness drill. Individuals, families, schools, churches and other groups will “drop, cover and hold on” at 10:18am on Oct. 18 for the drill, which is meant to bring attention to earthquake preparedness. ShakeOut drills are held worldwide, including […]
By Canadian Underwriter | September 18, 2012
The Institute for Catastrophic Loss Reduction (ICLR) will feature Western University’s Dr. Slobodan Simonovic during its Oct. 12 Friday Forum event on climate change related disasters. The forum will focus on changing climate hazard patterns, as urban environments are faced with pressures of rapid urbanization, population growth and exposure to natural disasters. Simonovic will discuss […]
By Canadian Underwriter | September 17, 2012
The New Brunswick government announced a total of $2.85 million in immediate and interim flood mitigation measures for the Perth-Andover region in the western part of the province. The measures follow the release of a mitigation study and are part of the provincial government’s plan to help the communities and residents of both the Village […]
By Canadian Underwriter | September 14, 2012
2 min read
Risk Management Solutions (RMS) estimates that U.S. insured losses from Hurricane Isaac’s wind and surge impacts on the U.S. Gulf Coast will be between US$1 billion and US$2 billion. Those figures exclude rainfall-driven flood losses and all National Flood Insurance Program losses. The estimate does include the possibility of a small amount of loss from […]
By Canadian Underwriter | September 13, 2012
More than 1,500 unionized workers at 55 claims-related Insurance Corporation of British Columbia (ICBC) locations will stage a one-day strike Sept. 18, the Canadian Office and Professional Employees Union, Local 378 said yesterday. “These are employees who have been without a contract for over two years,” said COPE 378 ICBC president David Black in a […]
Quebec’s Court of Appeal ordered Lloyd’s to pay $460,000 to investors as a result of negligent acts committed by its financial planner and the firms for which he worked, Norton Rose Canada reports in a legal update. The court’s unanimous decision in Souscripteurs du Lloyd’s v. Alimentation Denis & Mario Guillemette, released on Aug. 2, […]
An insurance company cannot recover medical examination expenses from another insurer under the provincial loss transfer scheme, according to a recent 2-1 decision from the Court of Appeal for Ontario. In the case, Wawanesa v. Axa, the first party insurer (Wawanesa) sought to recover from the second party insurer (Axa) indemnification for multiple medical assessments […]
By Canadian Underwriter | September 12, 2012
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