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Catastrophes

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 Out of control Saskatchewan wildfire triggers state of emergency, evacuation

April 23, 2019 THE CANADIAN PRESS

BIGGAR, Sask. – Saskatchewan’s fire commissioner is urging people across the province not to have open fires as a wildfire around the town of Biggar sparked a state of emergency and some evacuations. Duane McKay says crews are assessing what

News CatastrophesInsurance

Flooding fears persist in Quebec town after worst deluge in 48 years

April 17, 2019 THE CANADIAN PRESS

BEAUCEVILLE, Que. – A Quebec town that this week suffered its worst flooding in nearly 50 years is fearing more damage as rain is forecast in the coming days. Officials in Beauceville, about 90 kilometres south of Quebec City, say

News AdjustersCatastrophesClaimsInsurance

Uber-style platform for expediting appraisals now in Canada

April 16, 2019 by David Gambrill

An Uber-style platform to expedite home and auto claims appraisals has made its way into Canada. Offered by WeGoLook, the online and mobile sharing-economy platform provides personalized, onsite data capture for inspections and low-complexity services across the United States. Now

News CatastrophesClaimsEarnings / RatingsInsurance

Is the reserve release tank running on empty?

April 15, 2019 by David Gambrill

The Canadian property and casualty industry saw its reserve releases contract in 2018 to their lowest level in seven years, according to MSA’s Q4 2018 Quarterly Outlook. Expressed as a percentage of loss development margin, reserve releases last year amounted

News CatastrophesClaimsInsurance

March winter storm costs insurers over $124 million

April 12, 2019 by Jason Contant

A mid-March winter storm that struck central and eastern Canada caused over $124 million in insured damage, Catastrophe Indices and Quantification Inc. (CatIQ) said Thursday. The storm hit Ontario on Mar. 14 and continued through Quebec, New Brunswick and Nova

News Catastrophes

The change to disaster mitigation funding that IBC is looking for

April 10, 2019 by Greg Meckbach

The insurance industry needs to ensure its own flood risk maps are widely available and the federal government needs to make it easier to spend money on disaster mitigation projects, says Insurance Bureau of Canada CEO Don Forgeron. The federal

News AdjustersCatastrophes

More than 100,000 Quebeckers without power after wind, freezing rain

April 10, 2019 THE CANADIAN PRESS

MONTREAL – Premier Francois Legault says the large majority of the more than 100,000 Quebec homes still without power after Monday’s ice storm will have electricity restored by Wednesday night. Speaking to reporters in Quebec City, Legault thanked Hydro-Quebec crews,

News CatastrophesClaimsInsurance

Two winter storms, one $70-million claims bill for insurers

April 9, 2019 by David Gambrill

The busy catastrophe season in Canada thus far is continuing with no signs of slowing down. Two severe weather storms in Ontario this year, one in February and one in March, cost insurers more than $70 million in insured damage,

News Catastrophes

Storm leaves more than 275,000 people without power in southern Quebec

April 9, 2019 THE CANADIAN PRESS

MONTREAL – Hundreds of thousands of people are still without power in southern Quebec after the region was hit freezing rain and strong winds. Quebec-Hydro says the storm Monday caused branches and trees to come in contact with their network,

News Catastrophes

Some earthquake deductibles too high: IBC

April 5, 2019 by Greg Meckbach

Brokers are telling the Insurance Bureau of Canada that for some homeowner clients, the deductible on earthquake coverage is so high that the clients could still end up broke after a major tremor. “Right now, the deductible on some of

News CatastrophesClimate ChangeInsurance

Long-range weather forecast: more flood claims for the P&C industry

April 3, 2019 by Jason Contant

Coastal flooding is expected to increase in many areas of Canada, bringing with it increased risk of damage to coastal infrastructure, according to a report released Tuesday by the federal government. “Local sea level is projected to rise, and increase

News CatastrophesInsurance

Canada ‘much closer’ to national flood program: IBC

April 2, 2019 by Greg Meckbach

The industry is making progress on getting a national flood insurance program, but a key challenge is getting all provinces, territories and Ottawa to agree on how it should work, the Insurance Bureau of Canada’s CEO suggested Tuesday. Unlike Britain