Alberta Motor Association Insurance Company is looking to divide the loss arising out of the Fort McMurray wildfire, which exceeded a duration of 168 hours, into six multiple loss occurrences in line with its reading of its property catastrophe excess…
Canadians evacuated from their homes because of wildfires can expect to suffer an average of $11,300 in financial losses, a recent study from Square One Insurance Services Inc. has found. Those with home insurance can recover most, but not all,…
HIGH RIVER, Alta. – A new housing and retail development in High River, Alta., is being hailed as proof of renewed confidence in the town’s ability to handle another flood event. Massive floods that raged through southern Alberta in the…
The Government of Alberta announced on Friday that it is investing an additional $10.3 million to protect homes, businesses and infrastructure in Canmore. The money represents the final funding towards a $48.6-million debris dam at Cougar Creek and is part…
KASLO, B.C. – The threat of further slides is keeping six families out of their homes in southeastern B.C., but residents of 41 other properties were allowed to return Tuesday night. The Regional District of Central Kootenay downgraded an evacuation…
When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day…
There are encouraging signs from government, municipalities and builders that resiliency needs to become part of building code conversations given that severe weather shows no signs of abating, suggested John Taylor, president and CEO of the Ontario Mutual Insurance Association…
The insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying…
While the federal government continues to “explore options” for a national approach to flood insurance, a major reinsurer warns coverage is unaffordable to many high-risk properties.
The Conference Board of Canada is echoing a recent recommendation by a former federal superintendent of financial institutions for Ottawa to consider adopting a last-resort, emergency back-stop mechanism for a catastrophic earthquake given the long-reaching, adverse effects that the event…
A severe storm that swept through southern Alberta and Saskatchewan in the third week of July has prompted an insured damage estimate of almost $65 million, reports Insurance Bureau of Canada (IBC), based on figures provided by Catastrophe Indices and…
Surviving homes in otherwise decimated neighbourhoods of Fort McMurray hit by this spring’s massive wildfire were more resistant to ignition by embers, notes a preliminary report issued by the Institute for Catastrophic Loss Reduction (ICLR). Home survival is not random…