Canadian Underwriter

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Catastrophes


News Catastrophes

Storm gives Newfoundland ‘an awful beating’

November 15, 2018 By Holly McKenzie-Sutter - THE CANADIAN PRESS

ST. 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

News CatastrophesClimate ChangeReinsurance

What’s making wildfires more severe?

November 12, 2018 By Seth Borenstein - THE ASSOCIATED PRESS

WASHINGTON – 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

News BrokersCatastrophesClaimsInsurancePodcast

What brokers should know about Emergency Preparedness [podcast]

November 9, 2018 Canadian Underwriter

When 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

News CatastrophesClimate ChangeLegislation / Regulation

A new idea to cover basement flooding losses

October 26, 2018 by Greg Meckbach

The 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

News CatastrophesClaimsInsurance

Will Ottawa-Gatineau insured losses set a record for tornado damage?

September 28, 2018 by Jason Contant

Official 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

News CatastrophesClaimsClimate Change

Why your clients are increasingly exposed to wildfire losses

September 28, 2018 by Greg Meckbach

Climate 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

News CatastrophesTechnology

Must-have for insurers to underwrite overland flood

September 26, 2018 by Greg Meckbach

Artificial 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

News CatastrophesClaimsInsuranceMarkets / Coverages

Claims whack-a-mole: what’s going on in property lines?

September 25, 2018 by David Gambrill

As 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

News CatastrophesInsuranceRestoration

Simple disaster preparation rules that commercial clients forget

September 13, 2018 by Greg Meckbach

Though it pays to be tech-savvy, one way commercial clients can manage risk is to learn to do without the Internet and payment card networks, a disaster restoration professional advises. In the event of a major storm, businesses need to

News CatastrophesClaimsRisk

This storm preparation tip is a myth

September 12, 2018 by Greg Meckbach

As Newfoundland gets hit by the remnants of Tropical Storm Gordon and Hurricane Florence threatens the Carolinas, brokers can make a difference in advising homeowners what not to do as nasty weather approaches. “In Canada, there are not many hurricane-type

News CatastrophesClaimsInsurance

Ontario already near $1 billion in insured damage in 2018

September 8, 2018 by Jason Contant

With almost three months left in the year, severe weather in Ontario alone has already caused almost $1 billion in insured damage, Insurance Bureau of Canada (IBC) reported Friday. One of the most recent events occurred Aug. 7, when a

News CatastrophesClaimsInsurance

Summer storms in this Canadian region cost over $200 million in insured damage

September 6, 2018 by Jason Contant

Summer storms across the Prairies have caused more than $200 million in insured damage so far this year. This brings total weather-related insured damage on the Prairies to $464 million since May 2017. The numbers from Catastrophe Indices and Quantification