Topic
Catastrophes
Judge questions wildfire mitigation plan
February 14, 2019 Sudhin Thanawala - THE ASSOCIATED PRESSSAN FRANCISCO – A U.S. judge who has berated Pacific Gas & Electric Corp. for its role in California wildfires demanded Thursday that the utility answer more questions about its efforts to clear trees and branches that can fall on…
What the industry learned from the costliest catastrophe of 2018
February 7, 2019 by Jason ContantThe sheer volume of claims following the windstorm that swept through southern Ontario and Quebec last May led to critical service disruptions, after so many consumers called at once to report their claims to their insurers. “I’m not sure people…
Two weird things about the 2018 catastrophe season
February 7, 2019 by Jason ContantThe Canadian insurance industry saw a bit of an unusual catastrophe season last year, with more cats in the second quarter than the third, and Ontario beating out Alberta for insured losses. There were a total of 12 catastrophes last…
Fatal explosion damages about a dozen homes near Toronto
February 4, 2019 THE CANADIAN PRESSCALEDON, Ont. – A man has died and dozens were forced from their homes after an explosion completely demolished a house in Caledon, Ont., on Sunday morning, officials said as they investigated the incident. Officers were called to the home…
The ‘tough decision’ Alberta made to reduce flood risk
January 30, 2019 Lauren Krugel - THE CANADIAN PRESSCALGARY – The Alberta government has now acquired one fifth of the land it needs for a controversial reservoir west of Calgary that would help protect the city from another massive flood. Transportation Minister Brian Mason said Tuesday the province…
Private flood insurance cited in new emergency management plan
January 28, 2019 by Jason ContantFederal, provincial and territorial (FPT) governments could “engage the private sector to develop an affordable private flood insurance model for the entire population, including clear incentives for mitigation of flood risks,” says a newly released emergency management strategy. Ministers have…
What will insurance look like in 30 years?
January 21, 2019 by Jason ContantInsurance company survival and relevancy will be big issues for the industry in the coming decade, predicts a P&C industry consultant. “We are facing somewhat of a crisis in that our industry is only picking up 32% of catastrophic losses…
Flooding in New Brunswick results from winter storm
January 21, 2019 Kevin Bissett - THE CANADIAN PRESSA powerful winter storm that brought heavy rain and snow to much of Eastern and Central Canada closed schools, flooded streets, knocked out power and forced school buses to stay off the roads in many areas Monday as temperatures began…
This area could get half a metre of snow
January 18, 2019 THE CANADIAN PRESSFREDERICTON – An intense winter storm is forecast to descend on the Maritimes on Sunday, and the New Brunswick government is warning residents to prepare for power outages. Environment Canada says a low-pressure system approaching from the southwest will track…
What the industry paid out for severe weather in 2018
January 17, 2019 by Greg MeckbachThe industry lost nearly $2 billion last year in Canada alone from the combined effect of several weather catastrophes. “No single event caused the high amount paid out for losses,” the Insurance Bureau of Canada said Wednesday in a release.…
Number of homes uninsurable for flood risk growing: study
January 17, 2019 The Canadian PressA coast-to-coast study finds Canadians aren’t keeping up with the need to protect their homes against catastrophic events made more common by climate change. The study from the University of Waterloo points out that insurance claims from weather-driven problems like…
Experts call for federal investigation of fatal bus crash
January 14, 2019 Alanna Rizza THE CANADIAN PRESSExperts are calling on the federal transportation safety board to investigate a deadly bus crash in Ottawa to prevent similar incidents from occurring again. Ahmed Shalaby, a civil engineering professor at the University of Manitoba, said the Transportation Safety Board…