Canadian Underwriter

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Catastrophes

News AdjustersCatastrophesClaimsInsurance

What needs to be done to address independent adjuster mobility

December 10, 2018 by Jason Contant

The Canadian Independent Adjusters’ Association (CIAA) has proposed a “national emergency licensing protocol” to address mobility issues facing independent adjusters in Canada. It has also proposed a national licensing qualification, a longer-term solution that would require legislative changes to Insurance

News AdjustersCatastrophesClaimsInsurance

What is the best way to address mobility issues for independent adjusters?

December 4, 2018 by Jason Contant

There needs to be a hybrid system of self-regulation in concert with regulatory discipline to handle interprovincial mobility issues for independent adjusters, says the president and CEO of an independent adjusting firm. “We need a hybrid system of self-regulation in

News Catastrophes

Flood watches in effect for British Columbia

November 27, 2018 THE CANADIAN PRESS

VANCOUVER – Drenching rain that has deluged British Columbia’s south coast since Sunday night should begin to relent over the next 24 hours, although Environment Canada says another 40 millimetres of precipitation is expected across parts of the region by

News CatastrophesInsuranceMarkets / Coverages

The flood risk that might be unaccounted for

November 19, 2018 by Greg Meckbach

Insurers might be unintentionally covering flood and fire risks arising from computer problems, a cyber expert with a risk modelling firm suggests. “Anything that is related to a computer system could trigger non-cyber losses,” Matt Honea, cyber director for Cyence

News Catastrophes

Storm gives Newfoundland ‘an awful beating’

November 15, 2018 By Holly McKenzie-Sutter - THE CANADIAN PRESS

ST. JOHN’S, N.L. – A ferocious storm is pounding much of Newfoundland and Labrador with powerful winds, blowing snow and surging waves, in what Environment Canada said was the largest storm in the world as of Thursday afternoon. “The shore

News CatastrophesClimate ChangeReinsurance

What’s making wildfires more severe?

November 12, 2018 By Seth Borenstein - THE ASSOCIATED PRESS

WASHINGTON – Both nature and humans share blame for California’s devastating wildfires, but forest management did not play a major role, despite President Donald Trump’s claims, fire scientists say. Nature provides the dangerous winds that have whipped the fires, and

News BrokersCatastrophesClaimsInsurancePodcast

What brokers should know about Emergency Preparedness [podcast]

November 9, 2018 Canadian Underwriter

When entrepreneurs and executives lie awake at night worrying about their businesses, they’re usually concerned with competitive threats. There’s always someone out there planning to disrupt their industry, court their customers or poach their employees. They should be worried. But

News CatastrophesClimate ChangeLegislation / Regulation

A new idea to cover basement flooding losses

October 26, 2018 by Greg Meckbach

The money needed to pay homeowners the cost of basement flooding could be raised by suing large oil firms, a politician suggested Thursday. “A lot of people are not going to be able to qualify for private insurance against flooding

News CatastrophesClaimsInsurance

Will Ottawa-Gatineau insured losses set a record for tornado damage?

September 28, 2018 by Jason Contant

Official catastrophe estimates will not be ready for awhile following the tornadoes that struck the Ottawa and Gatineau areas Sept. 21, but it will definitely be a cat event, industry observers say. Catastrophe Indices and Quantification Inc. (CatIQ) defines a

News CatastrophesClaimsClimate Change

Why your clients are increasingly exposed to wildfire losses

September 28, 2018 by Greg Meckbach

Climate change has turned the risk of wildfire into a year-round peril in Western Canada, a geography expert says. In the past, wildfire season started in April or May and ended some time in October, said Dominic Ford, senior geospatial

News CatastrophesTechnology

Must-have for insurers to underwrite overland flood

September 26, 2018 by Greg Meckbach

Artificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked

News CatastrophesClaimsInsuranceMarkets / Coverages

Claims whack-a-mole: what’s going on in property lines?

September 25, 2018 by David Gambrill

As if mounting auto insurance losses aren’t enough, the industry now has a new emerging issue to worry about this year – an alarming spike in home and commercial property claims. Catastrophe losses and fire are among the chief culprits