Tropical storms to reach record levels

A record number of tropical storms may result from the 2005 North Atlantic hurricane season, according to Tropical Storm Risk (TRS) – led by University College London’s Benfield Hazard Research Centre.Approximately 22 tropical storms, TSR reports, may form in the Atlantic basin throughout this years hurricane season. Further to their prediction, TSR says half of […]

By Canadian Underwriter | August 15, 2005 | Last updated on October 2, 2024
1 min read

A record number of tropical storms may result from the 2005 North Atlantic hurricane season, according to Tropical Storm Risk (TRS) – led by University College London’s Benfield Hazard Research Centre.Approximately 22 tropical storms, TSR reports, may form in the Atlantic basin throughout this years hurricane season. Further to their prediction, TSR says half of these storms will likely develop into hurricane status. The old record of tropical storms for a single North Atlantic hurricane season was 21, set in 1933.

Canadian Underwriter

A cyber side effect of the CrowdStrike outage

Claims

A cyber side effect of the CrowdStrike outage

Although direct insured losses from the CrowdStrike software update error weren’t as large as expected, threat actors did try capitalizing on the resulting ‘blue screen of death’ errors to maximize damage, a CFC executive said during a recent webinar. On the morning of July 19, endpoint security company CrowdStrike released an update to its Falcon […]

By Jason Contant | September 10, 2024

3 min read

Former Definity adjuster disciplined for $102K embezzlement scheme

Claims

Former Definity adjuster disciplined for $102K embezzlement scheme

Quebec’s P&C insurance regulator has found a former insurance adjuster guilty of an embezzlement scheme, in which he faked client claims and siphoned more than $100,000 in claims payments from Definity into his own bank accounts. The Chambre de l’assurance de dommages (ChAD) says the former Definity adjuster, Tresor Luyeye, committed 13 Code of Conduct […]

By David Gambrill | September 20, 2024

3 min read

Why Calgary’s hailstorm could send more Alberta auto insurers to the exits

Claims

Why Calgary’s hailstorm could send more Alberta auto insurers to the exits

Calgary’s record-setting hailstorm in August may send more of the province’s auto insurers heading for the exits, Insurance Bureau of Canada warned Thursday. “The Calgary hailstorm will add $900 million in unexpected claims cost pressures at a time when Alberta’s auto insurance system is in crisis due to the province’s rate cap,” Aaron Sutherland, IBC’s […]

By David Gambrill | September 19, 2024

3 min read