Claims

NIST stresses need to secure tall buildings through design

The National Institute of Standards and Technology (NIST) has recommended the technical community implement changes in the design, materials, construction, maintenance and techniques i.e. changes to codes and standards to improve tall building safety and performance. The report, based on a three-year investigation into the destruction of the World Trade Center, states the towers may […]

By Canadian Underwriter | June 23, 2005

2 min read

Claims

Alberta winds result in increased expenses for insurance pools

Alberta and Calgary-based chemical manufacturing company Nova Chemicals Corp has recently announced it will declare force majeure clauses which excuse the party from liability if an unanticipated event results in its inability for it to perform obligations under contract on all affected ethylene, hydrogen and polyethylene customers. This action is a result of high wind […]

By Canadian Underwriter | June 23, 2005

1 min read

Claims

Insurers may be flooded with storm damage claims from Alberta

Flooding is no longer the only force damaging residences in Alberta. Environment Canada has now released reports of several tornado sightings near Vauxhall, Taber and Coalhurst with at least one of them touching down. In addition, heavy windstorms and golf-ball-sized hailstones hit areas west of Calgary.Flooding, environment Canada says, is subsiding in many areas but […]

By Canadian Underwriter | June 23, 2005

1 min read

Claims

TRIA does not provide sufficient economic protection

Insurers are failing to provide U.S. businesses with adequate terrorist attack protection and, according to a new study, this means a major terrorist attack would result in nationwide economic disruption.The report, “Trends in Terrorism: Threats to the United States and the Future of the Terrorism Risk Insurance Act,” says that terrorism insurance does not cover […]

By Canadian Underwriter | June 21, 2005

1 min read

What’s New: In brief (June 21, 2005)

On June 16, 2005, the newly formed company Assured Automotive representing the recent merger between Imperial Collision Centres and Oaktown Collision Centres held a charity boat cruise to raise money for Erinoak a charitable organization that aids children with physical disabilities. The charity cruise, held at the Toronto harbor, garnered support from more than 400 […]

3 min read

Marijuana grow operations may lead to higher insurance rates

A recent fire in Richmond, BC is likely a result of a marijuana grow-op. The incident sets precedence for the new pot grow-op bylaw, set to take effect July 1, requiring landlords to check their premises for grow-ops every three months. It also heightens the issues surrounding a recent Nova Scotia-based symposium hosted by policing […]

1 min read

Update, Alberta floods

In a recent statement, Deputy Prime Minister Anne McLellan recently offered Rob Renner, Minister of Municipal Affairs, any assistance required to aid against the damage caused by relentless floods in Alberta. McLellan, Canada’s Minister of Public Safety and Emergency Preparedness, says a liaison officer from Public Safety and Emergency Preparedness Canada’s Alberta Regional Office is […]

2 min read

What’s New: In brief (June 20, 2005)

CORRECTION NOTICE: Royal & Sun Alliance Insurance Group Plc. is not calling for bids as was stated in the news release published on June 20, 2005. A Royal & Sun representative says the Company has no plans to call for bids on operations. A federal nuclear safety official representing the Canadian Nuclear Safety Commission says […]

2 min read

Report on Royal and Sun’s shares

Royal & Sun Alliance Insurance Group Plc. shares recently fell 0.6% – following a 70% decrease over the past five years – to close at 83 pence in London, valuing the insurer at 2.4 billion pounds (US$4.4 billion). These results follow U.K.-based investment company Corvus Capital Inc.’s recent decision to opt out of its plans […]

1 min read

Integro Canada recruits another ex-Marsh to its team

Integro USA an insurance brokerage firm offering brokerage and risk management services recently appointed John Chippindale as the new managing director and president of Integro Canada. Chippindale is another ex-Marsh Canada employee the New York-based firm has recruited to its team. Most recently, Chippindale served for two years CEO of Global Consumer and Commercial Business […]

1 min read