Insurance & Risk, Analysis, Events and Careers
Tropical storm Cindy the third named storm of the Atlantic hurricane season recently formed and is set to hit the coast of Louisiana coast. The National Hurricane Center in Miami expects Cindy may strengthen before hitting Louisiana, well exceeding it’s early readings of 72 kph (42 mph). Cindy, however, may not make hurricane status.In addition, […]
By Canadian Underwriter | July 5, 2005
1 min read
The Ontario Court of Appeal's dramatic ruling in total loss salvage cases is no loss for the insurance industry. After a two round knock-out match the insurers were made champions, a win bolstered by support from their new found judiciary 'fans,' who offered unexpected support against policyholder 'opponents.'
June 30, 2005
4 min read
Shumka Craig & Moore Adjusters Canada Ltd. (“SCM”) has acquired Custard Insurance Adjusters Canada Inc. (“CIA”), providing the independent, Edmonton-based firm with over 60 branches nationwide. CIA adds 11 Ontario branches to SCM’s roster, helping to solidify its standing as one of Canada’s top three independent insurance adjusting firms. “Not only will our Ontario operation […]
June 30, 2005
1 min read
The U.S. Treasury Department recently released a report on the state of terrorism suggesting the Terrorism Risk Insurance Act (TRIA) should not be extended in its present form.Treasury secretary John Snow says, in a letter concurrent with the reports recent release, that TRIA may hinder the further development of the insurance market by crowding out […]
By Canadian Underwriter | June 30, 2005
2 min read
European insurer Allianz AG is set to increase future insurance premiums in direct response to the risk posed by global warming, which increases claims resulting from increased flood frequency and heat waves. In order to reduce greenhouse gas emissions caused by the burning of coal and natural gas, Allianz states in the next five years […]
By Canadian Underwriter | June 29, 2005
1 min read
Combined, global costs resulting from catastrophic storm damage may show an increase of two-thirds by the 2080s, according to the Association of British Insurers (ABI).The new report, “Financial Risks of Climate Change,” provides a global analysis of the projected climate-change trends of hurricanes, typhoons and windstorms. The potential effects of such changes may increase insured […]
By Canadian Underwriter | June 29, 2005
1 min read
Cunningham Lindsey Canada is sending numerous catastrophe adjusters to devastated southern Alberta, where recent mass flooding has caused insurmountable damage. The Company is sending over 30 CAT adjusters who have been working on Alberta’s claims resulting from flood and hail related damages. A standby team of adjusters and support staff will be close at hand […]
By Canadian Underwriter | June 28, 2005
1 min read
The Athabasca Oil Sands Project Joint Venture recently reached a settlement withcertain of its insurance underwriters under Section III of the policy issued in relation to the project, according to Western Oil Sands. Profit loss due to insurance claims that arose from the Jan. 6, 20003 fire at the Muskeg River Mine motivated the Joint […]
By Canadian Underwriter | June 27, 2005
1 min read
Canadian security is set to skyrocket with the inception of a new North American plan intended to improve the response to internal and external threats while bolstering free flow of trade between Canada, U.S. and Mexico, according to Deputy Prime Minister Anne McLellan.In a recent press conference in Ottawa McLellan says the strategy, offering 300 […]
By Canadian Underwriter | June 27, 2005
2 min read
NOVA Chemicals Corp. (TSX: NCX) continues to work to mitigate the impact of the severe weather-related shutdown of six natural gas processing plants owned and operated by third parties at Empress, AB. Production at the Compnay’s Joffre, AB manufacturing site is slowing due to reduced ethane availability. The Alberta site is currently only operating at […]
By Canadian Underwriter | June 24, 2005
1 min read