Canadian Underwriter

Topic
Catastrophes

Fishing Storage Buildings on the Atlantic Coast
News CatastrophesClimate ChangeInsurance

Feds commit $15 million to flood insurance backstop. Is it enough?

April 18, 2024 by David Gambrill

Although the federal government committed to forge ahead with its long-awaited flood insurance backstop Tuesday, Canada’s property and casualty insurance industry notes the 2024 federal budget was light on details – and funding. The insurance industry has been negotiating with

A wildfire in Enterprise, NWT
News CatastrophesClaimsClaims CanadaInsuranceRestoration

Wildfire clean-up continues in Enterprise, NWT

April 17, 2024 Tom Taylor, Local Journalism Initiative Reporter, NWT News/North – The Canadian Press

Enterprise’s 2024 spring carnival was a sorely needed opportunity for celebration in a community that has been through more than most over the last few months. “It was just great fun,” said Sandra McMaster, who became the community’s new mayor

Firefighters battling wildfire in Tantallon, N.S.
News CatastrophesClaimsClaims CanadaInsurance

Before likely ‘ferocious’ wildfire season, fire chiefs worry about drop in volunteers

April 12, 2024 Lyndsay Armstrong – The Canadian Press

As Canada looks ahead to what experts fear could be another devastating wildfire season, fire chiefs say they are worried about the dwindling number of volunteers available to combat the rising threat. Ken McMullen, president of the Canadian Association of

A fire burning across the lake in Osoyoos, B.C.
News CatastrophesClaimsClaims CanadaInsurance

Drought, heat raise risk of repeat of last summer’s record-breaking wildfires

April 10, 2024 The Canadian Press

Persistent drought and months of above-average temperatures have raised the risk of a repeat of last year’s record-breaking wildfires. Federal officials say conditions are already ripe for an early and above-normal fire risk from Quebec all the way to British

Concept of carbon credits and net-zero emissions
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMGAsProducts

Why this MGA is betting on carbon insurance

April 9, 2024 by Jason Contant

Specialist insurance provider CFC has entered the voluntary carbon market (VCM) with the launch of a carbon delivery insurance product that safeguards the purchase of carbon credits. VCMs are decentralized markets in which individuals or organizations buy credits to voluntarily

Storm coming in
News CatastrophesClaimsInsurance

Hurricane season’s on the horizon — are we ready?

April 9, 2024 Philip Porado

It won’t be long before June arrives, bringing with it the 2024 hurricane season. That might be a problem for Canada’s adjusters and insurers given many are still managing residual claims from Hurricane Fiona’s 2022 battering of the East coast.

Harvested wheat field in Saskatchewan
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / Coverages

Why climate change on the farm equates to a big bill

April 8, 2024 Amanda Stephenson – The Canadian Press

To get an idea of the financial toll extreme weather is taking on this country’s agriculture industry, look no further than the government of Saskatchewan’s books.  The prairie province had forecast a more than $1 billion surplus for the fiscal

The McDougall Creek wildfire in West Kelowna, BC.
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceRisk

B.C. to get wildfire training and education centre in response to expert task force

April 5, 2024 The Canadian Press

British Columbia’s premier says a training and education centre for wildfire fighters will be established in response to recommendations by a task force that looked into last year’s catastrophic wildfires. David Eby says the centre at Thompson Rivers University in

Water-damaged home being dried out
News AdjustersCatastrophesClaimsClaims CanadaInsuranceRestoration

What’s new in restoration and adjuster national licensing?

April 4, 2024 by Jason Contant

The trend of insurers owning restoration firms and third-party vendors may not continue, particularly since controlling costs remains a priority for carriers, sources tell Canadian Underwriter.  It also looks like a national adjusting licensing standard or cross-provincial licensing will not

Fencing put up during the trucker convoy protest in Ottawa, Canada
News CatastrophesCommercial LinesInsuranceRisk

3 ways Canadian insurers can prepare for political risk

April 2, 2024 by David Gambrill

Canada is not immune to social divisions resulting in damage caused by political protests, and insurance companies can do three things to prepare for political risk, says a new report published by the Insurance Institute of Canada. First, insurance companies

Smoke from Canadian wildfires as seen in Boston on Canada Day 2023.
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / Coverages

Driven by wildfire smoke, Canada’s air quality worse than U.S. in 2023

March 25, 2024 Jordan Omstead – The Canadian Press

Canada’s air pollution levels last year were worse than those in the United States for the first time since an air-quality firm started publishing its assessments in 2018.  The sixth World Air Quality report published Tuesday by Swiss firm IQAir

News BrokersCatastrophesClimate ChangeCommercial LinesInsuranceRisk

B.C.’s plan for flood mapping and building back better

March 22, 2024 by Alyssa DiSabatino

A new report by the Government of British Columbia details its commitment to developing a provincially coordinated floodplain mapping program, and sheds light on how and where it intends to rebuild communities after a flood.   More specifically, the report, From