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FirstOnSite Restoration expands in Toronto area
Restoration company’s new Toronto East branch located at 21 Canadian Road
Tag: "Disaster"
Slave Lake fires become second costliest insured disaster in Canadian history
Ontario and Quebec ice storm in 1998 remains costliest insured disaster, costing over $1.8 billion
Emergency Preparedness Week kicks off in Toronto
By ILSTV Staff on Apr 29, 2011 in Agriculture
Emergency Preparedness Challenge will help Ontarians become aware of how they can protect themselves and their homes in disasters
Deadline approaching for NB disaster financial assistance
New Brunswick residents who suffered damages during recent severe storms and flooding are encouraged to register their damages and apply for disaster financial assistance. Homes and properties were damaged in recent weeks after heavy rains caused flooding and storm surges battered coastal communities. Residents planning to apply for disaster financial assistance are reminded of two [...]
Catastrophes made 2010 one of the most loss-intensive years for insurance industry
Several major catastrophes in 2010 resulted in substantial losses and an exceptionally high number of fatalities, according to Munich Re. A total of 950 natural catastrophes were recorded last year, nine-tenths of which were weather-related events like storms and floods. This total makes 2010 the year with the second-highest number of natural catastrophes since 1980, [...]
Helping Clients Identify Risk
View the video here on your mobile device. Ryan Pratt, a Senior Manager with Ernst & Young, explains how they help their clients in identifying risk. Ryan Pratt: What we do with our clients in terms of identifying risk and what could happen, and what are the potential risks that they face, is we encourage [...]
Loss burden from Chilean quake now at $1 billion
By ILSTV Staff on Jun 16, 2010 in Natural Disasters
The long-term trend towards ever higher natural catastrophe costs continues, Munich Re’s Geo Risks experts conclude in view of the large number of natural catastrophes recently, the latest examples being the earthquake in Chile, hailstorms in Australia and Winter Storm Xynthia in Europe. Munich Re now estimates its loss burden from the earthquake that struck [...]
Manitoba flood damage will cost well over $1M
By ILSTV Staff on Jun 04, 2010 in Natural Disasters
Manitoba Premier Greg Selinger says damage from heavy rain over the last weekend in May will tally well over $1 million. Selinger is promising disaster financial assistance to help homeowners deal with flooded land, and to help municipalities repair washed out roads and other infrastructure. Selinger says the figure does not include a sewage backup [...]
Oilsands investment riskier than Gulf of Mexico
By ILSTV Staff on May 27, 2010 in Business
A report says the oilsands could be a riskier place to invest for the long-term than the Gulf of Mexico. The world’s attention has been focused on the ruptured oil rig that has been spewing crude oil into the Gulf for nearly a month, but the report by RiskMetrics Group likened development of Alberta’s oilsands [...]
New volcanic ash avoidance rules proposed
By ILSTV Staff on May 21, 2010 in Natural Disasters
The European air safety agency says it is proposing new procedures that would significantly decrease airspace closures due to volcanic ash in the future. Spokesman Daniel Hoeltgen says the new solution would adopt the U.S. practice of imposing a 190 kilometre no-fly buffer zone for all airliners flying around any visible ash plume. The change, [...]
Lloyd’s: US tornado season gets underway
By ILSTV Staff on Apr 23, 2010 in Natural Disasters
Householders, businesses and farmers up and down the US are battening down the hatches in preparation for the 2010 tornado season, which gets properly underway this month. In a new report, Lloyd’s of London is taking a look at tornados in the US. The peak of US tornado season varies by geographic region but usually [...]
Vesuvius is Europe’s most dangerous volcano
By ILSTV Staff on Apr 21, 2010 in Natural Disasters
If Italy’s Mount Vesuvius erupted today, it could result in more than 8,000 fatalities, 13,000 serious injuries and total economic losses of more than $24 billion. The Willis Research Network (WRN) released its list of the top ten most dangerous volcanoes in Europe, and Vesuvius came in on top. The WRN team said that Vesuvius [...]
Iceland eruption won’t affect insurance industry
By ILSTV Staff on Apr 20, 2010 in Natural Disasters
Munich Re says that the renewed eruption of the Eyjafjallajökull volcano has led to widespread shutdowns and cancellations in Europe’s air traffic, yet is not expected to have any other substantial repercussions or give rise to significant losses for the insurance industry. In a statement, Munich Re said that the second eruption on April 14 [...]
First quarter of 2010 worst ever for cat losses
By ILSTV Staff on Apr 08, 2010 in Natural Disasters
An unprecedented US $16 billion in losses from the Chilean earthquake, the European storm Xynthia and other natural catastrophes have made the first three months of 2010 the worst first quarter on record for such events, according to the latest renewals report from Willis Re, the reinsurance broking arm of Willis Group. Willis Re’s 1st [...]
Catastrophes cost insurers $26 billion in 2009
View the video here on your mobile device. According to Swiss Re’s latest sigma study, natural catastrophes and man-made disasters claimed approximately 15,000 lives and cost insurers $26 billion in 2009. The overall cost to society was $62 billion. Insured losses were below average due to a calm US hurricane season. On a worldwide basis, [...]
Feds release national emergency response plan
View the video here on your mobile device. The government has released an “all-hazards” national emergency response plan four months after it was chastised for not having one approved by cabinet. The plan outlines the responsibilities departments and agencies have in national or provincial emergencies, as well as international ones that could affect Canada. “It [...]
Independent cat loss information service launched
View the video here on your mobile device. ISO has been working with Toronto based MSA Research Inc. to bring Property Claim Services - PCS - to Canada. A new independent service named PCS-Canada (www.pcs-canada.com) enables primary insurance companies, reinsurers, brokers, and others to receive, for the first time, industry-wide data about Canadian catastrophes, including [...]
RSA announces impact of Chilean earthquake
View the video here on your mobile device. RSA has announced the impact of the Chilean earthquake on its business. RSA Insurance Group is the leading general insurer in Chile through its wholly-owned subsidiary, Royal & SunAlliance Seguros Chile. The February 27 earthquake caused widespread damage throughout Chile and, while the situation is still evolving, [...]
