Topic
Catastrophes
What needs to be done to address independent adjuster mobility
December 10, 2018 by Jason ContantThe 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…
What is the best way to address mobility issues for independent adjusters?
December 4, 2018 by Jason ContantThere 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…
Flood watches in effect for British Columbia
November 27, 2018 THE CANADIAN PRESSVANCOUVER – 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…
The flood risk that might be unaccounted for
November 19, 2018 by Greg MeckbachInsurers 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…
Storm gives Newfoundland ‘an awful beating’
November 15, 2018 By Holly McKenzie-Sutter - THE CANADIAN PRESSST. 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…
What’s making wildfires more severe?
November 12, 2018 By Seth Borenstein - THE ASSOCIATED PRESSWASHINGTON – 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…
What brokers should know about Emergency Preparedness [podcast]
November 9, 2018 Canadian UnderwriterWhen 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…
A new idea to cover basement flooding losses
October 26, 2018 by Greg MeckbachThe 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…
Will Ottawa-Gatineau insured losses set a record for tornado damage?
September 28, 2018 by Jason ContantOfficial 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…
Why your clients are increasingly exposed to wildfire losses
September 28, 2018 by Greg MeckbachClimate 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…
Must-have for insurers to underwrite overland flood
September 26, 2018 by Greg MeckbachArtificial 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…
Claims whack-a-mole: what’s going on in property lines?
September 25, 2018 by David GambrillAs 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…