Topic
Catastrophes
Tropical storm Isaias expected to bring heavy rain, wind gusts to eastern Canada
August 4, 2020 THE CANADIAN PRESSHALIFAX – A tropical storm that has lashed parts of the eastern United States should be diminished in strength by the time it reaches eastern Canada, the Canadian Hurricane Centre says. Centre forecaster Chris Fogarty said that Isaias was on…
Swiss Re Group books $2.5 billion for pandemic-related losses
July 31, 2020 by David GambrillSwiss Re today reported COVID-19 claims and reserves totalling $2.5 billion across the Group, resulting in a net loss of $1.1 billion in the first half of 2020 (all figures in U.S. dollars). “Based on current information and a prudent…
The business line that drove Intact’s profitability in 2020 Q2
July 31, 2020 by Greg MeckbachIf you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in…
Who’s getting funding for new research in wildfire prediction, responses
July 31, 2020 THE CANADIAN PRESSKAMLOOPS, B.C. – A university located in the heart of one of British Columbia’s most volatile forest fire regions will lead new research in wildfire prediction, prevention and response. Thompson Rivers University in Kamloops was chosen for the research that…
Multiple townhouse units damaged in Hamilton fire
July 27, 2020 THE CANADIAN PRESSHAMILTON – Firefighters were called out early this morning to battle a massive wind-whipped blaze in a townhouse complex (pictured, above) in Hamilton, Ont. The Hamilton Fire Department says the multi-alarm inferno erupted in the city’s east side on Edenrock…
Lloyd’s proposes “open source” frameworks for future pandemic coverage
July 6, 2020 by David GambrillLloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers…
Lac Megantic marks seventh anniversary of 2013 rail disaster with memorial site
July 6, 2020 Stephanie Marin – THE CANADIAN PRESSSeven years after a rail disaster decimated its downtown, Lac-Megantic sought Monday to honour both its past and future by inaugurating a long-planned memorial space at the site at the heart of the tragedy. On July 6, 2013, a runaway…
COVID-19 sparks debate about U.S. adjuster use in Calgary
July 3, 2020 by David GambrillCOVID-19 appears to be kindling proud sentiments about employing Canadian adjusters, after social media posts triggered an age-old debate about using U.S. adjusters to handle catastrophe claims in Canada. Twitter was abuzz with comments after Global News posted a piece…
What was abnormal about June Calgary hail storm
July 2, 2020 by Greg MeckbachAlberta’s hailstorm in mid-June was so severe that some homes suffered interior damage as a result, an independent adjusting firm reports. “We have seen skylights completely blown out to the point that the hail that impacted that skylight also impacted…
Dam threatened by water levels in rural Manitoba, some residents evacuate
July 2, 2020 THE CANADIAN PRESSRIVERS, Man. – A rural Manitoba mayor says some people and livestock have been evacuated from his community because high water levels are threatening a dam. Rural Municipality of Riverdale Mayor Todd Gill says 38 households in the Little Saskatchewan…
How ‘actual cash value’ could be affecting some Alberta hail victims
June 26, 2020 by Greg MeckbachIf some Alberta homeowners are only getting a small fraction of the cost to repair properties damaged in the recent hail storm, that could be the result of choosing a policy that only covers actual cash value, Insurance Bureau of…
Auto total loss claims escalate after Calgary hail storm: IBC
June 24, 2020 by Greg MeckbachThe industry is expecting well over 20,000 claims from the recent Alberta hail storm, and some vehicles were wrecked badly enough that they have to be written off, the Insurance Bureau of Canada reports. “We are hearing from several consumers…