Claims
Colorado State University (CSU)’s Tropical Meteorology Project is calling for somewhat above-average Atlantic basin hurricane activity in 2008.A new report provides the team’s first extended-range forecast for the 2008 hurricane season. It anticipates 13 named storms forming in the Atlantic basin between June 1 and Nov. 30.Seven of the 13 storms are predicted to become […]
By Canadian Underwriter | December 10, 2007
2 min read
The Insurance Bureau of Canada (IBC) on Jan. 1, 2008 is launching a project that will accurately track domestic oil spills in Atlantic Canada for the first time. The data will be provided to governments as part of an effort to introduce and strengthen legislation for the installation, maintenance and replacement of domestic oil tanks.”IBC […]
By Canadian Underwriter | December 6, 2007
1 min read
The Insurance Brokers Association of Ontario (IBAO) has launched a new feature of its online function, ‘Locate a Broker,’ which now allows consumers to search for a broker representing a specific insurance company.”Using a broker is all about having access to choice, and by expanding the search criteria on our web site, we are inviting […]
By Canadian Underwriter | December 5, 2007
Insurers need to work to improve homeowners’ risk perception of sewer backups in order to increase their mitigative efforts, says new research from the Institute for Catastrophic Loss Reduction (ICLR).The ICLR surveyed 805 homeowners in Edmonton and Toronto with the aim of investigating perceptions related to the sewer backup component of urban flooding and mitigative […]
As a result of climate change and urban development, as many as 150 million people in the world’s major cities could be reliant on flood defenses by 2070 more than three times the 40 million people who face such exposure today, according to a new study by the OECD.The study was jointly authored by Risk […]
By Canadian Underwriter | December 4, 2007
The recent subprime mortgage crisis exposed narrowly focussed risk management programs in financial institutions around the world, which could lead to overreactions when unforeseen or damaging events arise, a TowerGroup report notes.In “Multifunctional Integration: The Positive Side of Risk,” researchers noted that most financial services institutions are predominantly risk-averse. But as the balance between product […]
Lloyd’s has dedicated Cdn$100,000 a year, for the next ten years to help sponsor the Institute for Catastrophic Loss Reduction (ICLR)’s latest endeavour hosting and managing an international Integrated Research on Disaster Risk program. The announcement was made at a Toronto event celebrating the 75th anniversary of Lloyd’s conducting business in Canada. Paul Kovacs, ICLR’s […]
By Canadian Underwriter | November 30, 2007
A flock of runners and walkers stretched and breathed in the ocean air before charging through Point Pleasant Park in support of the McGannon Foundation’s 4th Annual Fun Run/Walk, sponsored by FM Global, with participants’ gift bags donated by CIAA, and held at “Halifax Beacons 2007.” Thirty-six runners and walkers laced up their shoes. Those […]
November 30, 2007
Cunningham Lindsey Group has signed a definitive agreement regarding substantial investment from Stone Point Capital, a private equity firm, and the buy-out of Cunningham Lindsey Group’s minority shareholders. Under the agreement, Stone Point will acquire a 51 per cent interest in the operating companies of Cunningham Lindsey in return for an investment of approximately US$80 […]
The Insurance Corporation of British Columbia (ICBC) has reported strong financial results for the first nine months of 2007, but remains cautious of increasing claims costs. Net income for the first nine months of 2007 was $526 million, an increase of $142 million compared to last year, with $133 contributed by the sale of the […]
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