Canada’s worst-ever spring wildfire season has forced its forestry industry to shutter sawmills, driving up lumber prices and setting production back for months just as housing construction has slowed due to higher costs and a tight labor market. Canada has …
Canada is on track to see its worst-ever wildfire season in recorded history if the rate of land burned continues at the same pace. The country is experiencing an unprecedented amount of fire activity for this early in the season, …
Wildfires raging across western Canada forced the evacuation of 30,000 residents and cut at least 234,000 barrels a day of oil and gas production as companies shut down wells and pipelines. A total of 100 blazes were burning Monday afternoon, …
Norbord Inc said on Tuesday it suspended production at its oriented strand board (OSB) mill in High Level, Alberta, to comply with evacuation orders following nearby wildfires. More than 4,000 people from High Level and the Bushe River First nations …
More than 300 wildfires in British Columbia have forced Canadian lumber mills and an Enbridge Inc. natural gas compressor station to shut as hot, dry weather fans blazes across swaths of western Canada and the U.S. Enbridge said Tuesday [July …
Reinsurance rates fell for the sixth consecutive year at the June 1, 2017 renewals, according to a market commentary published by JLT Re. JLT Re cited its Risk-Adjusted Florida Property-Catastrophe (ROL) Index which fell by 5.1 percent this year. This …
Lloyd’s reported 2016 pretax profit of £2.1 billion pounds ($2.6 billion), level with 2015, despite a worsening of the market’s combined ratio at 97.9 percent, compared with 90.0 percent in 2015. Return on capital was 8.1 percent in 2016 compared …
Insured damages from Canadian natural catastrophes during 2016 topped C$4.9 billion (US$3.7 billion) – smashing the previous annual record of C$3.2 billion (US$2.4 billion) set in 2013, according to the Insurance Bureau of Canada. “From the wildfires that swept through …
More than 10,000 people died as a result of natural and man-made disasters during 2016, with financial losses totaling at least $158 billion, Swiss Re said on Thursday. At an estimated $49 billion, insured losses rose by nearly a third …
Some five months after the wildfires that devastated Fort McMurray were extinguished, anger over red tape and the slow pace of insurance payouts and permit issuance is flaring in the remote northern Canadian city. More than 1,900 structures were destroyed …
