Claims
The most destructive wildfire season in Colorado’s history has resulted in $449.7 million in insured losses, according to an updated estimate by the Rocky Mountain Insurance Information Association (RMIIA). Together, the Waldo Canyon fire in Colorado Springs and the High Park fire near Fort Collins have burned more than 600 homes in Colorado, the RMIIA […]
By Canadian Underwriter | July 18, 2012
1 min read
Insurers experienced a fairly benign first half of the year for natural catastrophes, according to Munich Re. Overall global losses to the end of June were about $26 billion, of which roughly $12 billion was insured. The reinsurer noted that damages were mainly a result of natural hazard events in the United States, particularly tornado […]
By Canadian Underwriter | July 17, 2012
2 min read
Barbara White has been named the new manager of Crawford & Company (Canada) Inc.’s Thunder Bay branch. White has more than three decades of experience in the property and casualty industry. Having joined Crawford in 1997, she has held numerous supervisory positions in the company’s accident benefits product line. “White’s leadership and dedication make her […]
A man in default of two court judgments ordering him to pay a total of $80,000 in damages to two injury victims in a 1992 auto accident is not entitled to challenge the validity of those judgments in subsequent actions intended to recoup the outstanding payments, the Court of the Queen’s Bench in Alberta has […]
By Canadian Underwriter | July 16, 2012
A number of residents remained unaccounted for after a large landslide severely damaged three homes in Johnsons Landing, a remote British Columbia community on the northeast shore of Kootenay Lake. A state of local emergency has been declared for the Johnsons Landing area. Environment Canada reports there is the potential for severe thunderstorms in Kooteny […]
By Canadian Underwriter | July 13, 2012
Global warming could almost double the number of properties at significant risk of flooding in the United Kingdom by 2035 unless loss reduction plans are put in place, argues a committee appointed by the U.K. government to study climate change. “Current levels of investment in flood defences and uptake rates of protection measures for individual […]
An east-west band of Edmonton was particularly hard hit by a severe thunderstorm in the early hours of July 12, 2012, resulting in some roadways being flooded and the temporary closing of a recreational centre. With the exception of the arena space, Mill Woods Recreation Centre will remain closed until at least July 16, 2012, […]
The first half of 2012 was the most active first half for Insurance-Linked Securities (ILS) issuance since 2007, Swiss Re notes in its July edition of Insurance-linked securities market update. “With approximately US$3.6 billion across 16 transactions and 28 tranches, the first half of 2012 was only US$237 million short of 2007’s first-half record,” Swiss […]
By Canadian Underwriter | July 11, 2012
U.S. severe weather insurance losses totalled nearly $2 billion in June 2012, according to the latest edition of Aon Benfield’s monthly Global Catastrophe Recap, which reviews natural disaster perils occurring worldwide. In Canada, the report notes that powerful thunderstorms ripped through southern Manitoba on June 9 and 10, spawning large, almost golf-ball-sized hail and heavy […]
By Canadian Underwriter | July 10, 2012
The Institute for Catastrophic Loss Reduction (ICLR), a centre for multi-disciplinary disaster prevention research and communications, has launched a new website to help reduce the chances of experiencing basement flooding and other types of water damage. In addition, the website, www.basementfloodreduction.com, provides some background information and descriptions of municipal sewer and stormwater management issues that […]
By Canadian Underwriter | July 9, 2012
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