Canadian Underwriter

Topic
Catastrophes


News CatastrophesClaimsInsurance

A hurricane with snow: RSA Canada reports on Newfoundland’s winter Cat

January 29, 2020 by David Gambrill

With the Canadian army now finished its snow-clearing mission in St. John’s, and an eight-day state of emergency now lifted, RSA Canada’s claims team on the ground expects a slow and steady stream of claims from Newfoundland & Labrador’s record-breaking

News CatastrophesInsurance

Ottawa’s latest response to calls for government flood insurance

January 27, 2020 by Greg Meckbach

It’s been three years since brokers called for a government backstop for residential flood losses, but Ottawa is not specifically committing to any particular model of government-run insurance for homes at high risk of flood. At the moment it is

News CatastrophesClaimsClaims CanadaInsurance

Canada’s biggest insurance losses in 2019

January 22, 2020 by Greg Meckbach

Insured damage from floods, rain, snow and windstorms reached $1.3 billion in 2019, the Insurance Bureau of Canada (IBC) reported Tuesday, citing data from Catastrophe Indices and Quantification Inc. (CatIQ) “Like 2018, no single event in 2019 caused the high

News CatastrophesInsuranceRisk

Why green concerns have experts seeing red

January 20, 2020 by Adam Malik

The World Economic Forum is sounding the alarm that the top most-likely global risks are all environment-related. In the group’s 15th annual Global Risk Report, survey respondents listed their Top 5 most-likely top global risks in 2020: extreme weather climate

News CatastrophesInsuranceMarkets / Coverages

Should the industry have a specific line of business for ‘catastrophe’?

January 16, 2020 by Jason Contant

Is it time the insurance industry starts zeroing in on a single definition of catastrophe? Traditionally, the industry would offer a named perils policy outlining specific catastrophe coverages or an all-risks policy, which covered risks unless they were specifically excluded.

News CatastrophesClimate Change

Natural disaster bills continue to climb: Public Safety Canada

January 9, 2020 Mia Rabson - THE CANADIAN PRESS

Ottawa’s bills for dealing with natural disasters neared half a billion dollars in two of the last three years amid a warning to Canadians that this country was one of the worst affected by climate change in 2018. Data from

Feature CatastrophesClaimsLegislation / Regulation

There goes the neighbourhood

January 4, 2020 Sarah Cunningham-Scharf, Freelance Writer

How governments and the industry should broach the delicate topic of expropriation in areas at high risk of flood damage

News CatastrophesClaimsMarkets / CoveragesReinsurance

What reinsurance renewals on Jan. 1 told us about the market

January 2, 2020 by David Gambrill

Reinsurance renewals at Jan. 1, 2020 reflected an “asymmetrical” market, featuring a mixed bag of rate increases or decreases (depending on the specific business line or territory), as well as significant rate increases in the retrocession markets, according to Guy

Feature CatastrophesClaims CanadaClimate Change

Bright skies ahead

January 1, 2020 Adam Malik, Managing Editor

Catastrophes have hit Canadian P&C adjusters  hard, causing many to wonder if the industry has  the capacity to handle increasing workloads. Why adjusters see sunnier times ahead

Feature BrokersCatastrophesClaimsInsurance

Executive Outlook 2020 | Silvy Wright, Northbridge

December 27, 2019 by David Gambrill

Silvy Wright, President, CEO, Northbridge Financial Corporation The industry’s top priority should be helping our customers effectively navigate volatile market conditions. The challenges being faced in both commercial and personal lines are considerable, from rising auto repair costs, required auto

News CatastrophesInsuranceRisk

Why the Fort McMurray wildfire wasn’t worse

December 10, 2019 by Jason Contant

A young, mobile population with strong safety training contributed to a successful evacuation during Canada’s costliest disaster three years ago in Fort McMurray, Alta., an author said recently at Insurance Bureau of Canada’s (IBC) inaugural Commercial Insurance Symposium. “Most work

Feature Catastrophes

Flooded with new exposure

December 2, 2019 David Gambrill, Editor-in-Chief

Laura Twidle, managing director at Catastrophe Indices and Quantification Inc. (CatIQ), adds a new twist on why the P&C industry is inundated with flood claims. Hint: It’s not just climate change