Home
Damage to vehicles as a result of hailstorms that struck Manitoba in mid-July has reached $2.5 million, the province’s public insurer reports. Manitoba Public Insurance (MPI) has received about 1,400 claims to date. Generally vehicle damage claims from the hail range from $2,500 to $3,000 each. Manitoba Crop Insurance Corporation (MCIC) received 310 claims with […]
July 31, 2003
1 min read
In what is reported to be the worst forest fire to hit B.C. in the past 50 years, a widespread blaze has caused the evacuation of several towns and even invaded into neighboring Alberta. Although damage is expected to run into millions of dollars, the raging flames have restricted operation of emergency crews and denied […]
2 min read
U.S. property and casualty insurers will likely incur about US$4.9 billion in catastrophe-related claims for the second quarter of this year, according to the Insurance Services Office (ISO). Insured losses for the first six months of this year – which saw a record number of auto, residential and commercial claims totaling 1.1 million in number […]
By Canadian Underwriter | July 28, 2003
Early damage estimates from Hurricane Claudette which made landfall in Texas last week and resulted in at least two deaths and property losses across 15 counties has thus far produced insured losses of around US$17 million, according to Texas-based Southwestern Insurance Information Service (SIIS).Five of the counties hit by Claudette have been declared disaster areas […]
By Canadian Underwriter | July 21, 2003
A new study by the Canadian Federation of Independent Business (CFIB) shows its members see insurance costs as their top concern. Business confidence in the economy in the second quarter of 2003 dropped, with insurance costs heading up the list of factors, followed by SARS and Mad Cow Disease.About 34% of small to mid-sized business […]
By Canadian Underwriter | June 30, 2003
Severe rain storms which hit Atlantic Canada in the beginning of April this year will likely cost insurers about $14.3 million as a result of auto, home and other property covers, says the Insurance Bureau of Canada (IBC).Nova Scotia bore the brunt of the downpour from the storms, with the total insured loss amounting to […]
By Canadian Underwriter | May 27, 2003
Just days after the announcement that The Hartford would exit p&c reinsurance, a buyer for part of the business has been found. Bermuda-based Endurance Specialty Holdings Ltd. says it has bought the majority of HartRe’s in-force p&c reinsurance business. Endurance acquires renewal rights to a select group of contracts equaling U$400 million of unearned premium […]
By Canadian Underwriter | May 20, 2003
Canada’s property and casualty insurers can take heart that the new industry ombuds service is seeing a slow volume of complaints making their way into mediation, says Lea Algar, chair of the General Insurance OmbudsService (GIO). Speaking at the Canadian Insurance Accountants Association (CIAA), Algar says that while there have been a number of complaints […]
April 30, 2003
Winter and windstorms that hit 10 states between April 4 to 8 will cost insurers US$1.2 billion, suggest early estimates from the Property Claims Services Unit (PCS) of the Insurance Services Office (ISO).At this point, PCS expects insurers will see more than 386,000 claims as a result of the damage caused by ice, snow, freezing […]
By Canadian Underwriter | April 25, 2003
Bucking the trend of first quarter 2001 and 2002, the first three months of this year produced a relatively high US$1.46 billion in cat losses south of the border. However, the figure still represents a mid-range of losses compared to the last ten first quarters, reports the Insurance Services Office (ISO) Property Claims Services (PCS) […]
By Canadian Underwriter | April 15, 2003
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
