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Catastrophes

News CatastrophesClaims

How much insurers paid out for Fort Mac’s spring flood

June 2, 2020 by Adam Malik

Insurers paid out more $228 million in insured damage for spring flooding in Fort McMurray, Alta., that occurred a little over a month ago. Catastrophe Indices and Quantification Inc. (CatIQ) released the numbers this week, noting that commercial properties took

News BrokersCatastrophesInsuranceMergers and Aqcuisitions

Q&A: Business Continuity in the Digital Age

June 1, 2020 by David Gambrill

As an industry challenged by all of the various disasters that the world has to offer, many Canadian property and casualty insurance companies already had business continuity plans in place to keep their operations running in the face of a

News CatastrophesClaimsClaims Canada

Flood warnings expand for part of B.C., but conditions ease elsewhere

June 1, 2020 THE CANADIAN PRESS

Flood warnings now cover a large section of southern British Columbia as river levels rise rapidly in response to heavy weekend rains and continuing snowmelt. The River Forecast Centre extended a flood warning Monday to the Boundary region, including the

News AdjustersCatastrophesClaims Canada

Dry conditions in Nova Scotia fuelling three large wildfires

May 27, 2020 THE CANADIAN PRESS

HALIFAX – Provincial officials in Nova Scotia are warning about the potential for forest fires in dry, humid conditions as firefighters battle three significant wildfires across the province. The fires burning Tuesday follow a weekend blaze near Porters Lake east

News AdjustersCatastrophesClaims CanadaInsurance

Pandemic insurance fraud: What to watch for…

May 25, 2020 by Greg Meckbach

Inflated auto towing and storage claims and arson are among the risks the industry faces from the economic downturn and social distancing arising from the pandemic, a fraud and data analytics expert warns. “A legitimate accident may happen and [a

News CatastrophesClaimsClaims Canada

Residents evacuated for forest fire near Halifax allowed to return home

May 25, 2020 THE CANADIAN PRESS

PORTERS LAKE, N.S. – Residents of more than 500 homes that were threatened by a forest fire in an area east of Halifax are being allowed to return now that officials have lifted an evacuation order. Halifax Fire tweeted late

News CatastrophesClaimsInsuranceRisk

Q&A: Business Continuity in the Digital Age

May 22, 2020 by David Gambrill

There has been a significant amount of discussion, both within and outside of P&C industry, about whether a commercial insurance policy offers pandemic coverage for business interruption losses. Generally speaking, commercial liability policies exclude business interruption coverage for pandemic. However,

News CatastrophesClaims CanadaRestoration

Meteorologists predict active hurricane season, Canadians told to prepare

May 22, 2020 THE CANADIAN PRESS

HALIFAX – Canadian meteorologists are predicting another active hurricane season, saying conditions are right for a long list of tropical storms. The Canadian Hurricane Centre in Halifax issued its seasonal forecast today, following up on a similar prediction offered Thursday

News CatastrophesClaimsClaims Canada

COVID 19 pandemic adds risk to wildfire season: B.C. forests minister

May 21, 2020 THE CANADIAN PRESS

NEW HAZELTON, B.C. – The COVID-19 pandemic has increased the danger of British Columbia’s wildfire season and the province’s forests minister says public help is crucial to reduce fires. Doug Donaldson says wildfires caused by humans are preventable and divert

News CatastrophesClaims CanadaInsuranceRisk

Where the federal government sits with its national flood insurance review

May 20, 2020 by Greg Meckbach

Six years after the federal government promised to explore options for a national approach to home flood insurance, the feds are still thinking about it. About 13,000 were recently evacuated from Fort McMurray, Alta., because of flooding on the Athabasca

News CatastrophesInsurance

Opinion: COVID is nasty and impactful, but it’s not a Black Swan

May 19, 2020 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss Reduction

Since the “black swan” metaphor was coined in the 2007 book of the same name, it has become fashionable to label virtually all low probability/high impact events black swans. But the danger of making an occurrence like the COVID-19 outbreak

insPRESS AdjustersCatastrophesClaims

MGB’s continued claims services to the commercial/ industrial markets following Fort McMurray flood

May 14, 2020 MGB Claims Consultants

TORONTO,ON, MAY 14, 2020/insPRESS/  – MGB Claims Consultants Inc., Canada’s leading commercial/industrial and complex claims management firm, continues to provide claims support in Fort McMurray in response to the April flooding event. The MGB team is on site to assist