Claims
PPG Automotive Refinish has been named a preferred supplier by Volvo Car Corporation for its worldwide network of dealerships and independent collision centers. The designation includes PPG’s waterborne Envirobase High Performance and Nexa Autocolor Aquabase Plus.Volvo’s objective is to provide its customers with premium-level repair quality in the aftermarket, according a release, and consequently, Volvo […]
By Canadian Underwriter | September 18, 2008
2 min read
Hurricane Ike has caused insured losses from both onshore and offshore damage of between US$6 billion and US$16 billion, catastrophe modellers estimate.The storm made landfall on Sept. 13, hitting Galveston Island, Texas as a strong Category 2 storm.Ike featured hurricane-force winds stretching up to 250 miles wide and maximum sustained winds at landfall of 110 […]
By Canadian Underwriter | September 15, 2008
1 min read
Facing a potential liquidity crisis as the 2008 hurricane season ramps up to the midway point, insurers may be running the risk of relying too heavily on state-sponsored entities and low-rated or unrated reinsurers, Standard & Poor’s (S&P’s) observes in a recent report.The report, published Sept. 11, is entitled: “Will Catastrophe Events Create Liquidity Strain […]
By Canadian Underwriter | September 11, 2008
Hurricane Ike has moved away from Cuba and is picking up steam as it heads through the Central Gulf of Mexico towards Texas.The National Hurricane Center reported on Sept. 10 that Ike, with sustained wind speeds of 155 km-h, is now a Category 2 hurricane. Ike is expected to become a “major” (Category 3-5) storm […]
By Canadian Underwriter | September 10, 2008
To date, this year ranks as the seventh-most active hurricane year since 1950, according to a mid-season report by climate forecaster Tropical Storm Risk (TSR).TSR is a consortium of experts on insurance, risk management and seasonal climate forecasting led by the Benfield UCL Hazard Research Centre at University College London.”Atlantic basin hurricane activity so far […]
By Canadian Underwriter | September 9, 2008
Post-tropical storm Hanna soaked the Atlantic provinces on Sept. 7, leaving more than 100 mm of rain in some parts of the area. Counties along the Fundy Coast of New Brunswick and Newfoundland were the hardest hit, as embedded rain bands brought intense rainfalls of 25 to 30 mm in an hour, Environment Canada reports. […]
By Canadian Underwriter | September 8, 2008
Insured losses from Hurricane Gustav are not expected to significantly affect the ratings of U.S. property and casualty insurers, according to a new report issued by Moody’s Investors Service. “Given the range of preliminary insurance loss estimates of [US]$3 billion to [US]$10 billion associated with Hurricane Gustav, Moody’s does not expect the event to significantly […]
By Canadian Underwriter | September 5, 2008
Hurricane Gustav may be on his way out, but more company is due to arrive. Up to five named storms are expected in September, according to the Colorado State University forecast team. Four of those will become hurricanes; two will become major (Category 3-5) hurricanes. Overall, the forecast team expects activity at about 190% of […]
By Canadian Underwriter | September 4, 2008
At the midpoint of an active 2008 hurricane season, AIR Worldwide Corporation (AIR) has issued a white paper updating its research on climatological influences on hurricane landfall risk. In particular, the white paper suggests that, “during years in which [Sea Surface Temperatures] SSTs are warmer than the long-term average, the U.S. Gulf and East Coasts […]
An increase in small hurricanes making landfall this season, in addition to the high level of catastrophe losses insurers have already absorbed during the first half of 2008, will likely bring a dose of reality to the competitive property cat markets and halt further price declines in 2009 according to A.M. Best. “A.M. Best expects […]
By Canadian Underwriter | September 3, 2008
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.
