Canada’s national earthquake early warning system is expected to go live in British Columbia in April followed by Ontario and Quebec this fall, a program manager for the federal government told delegates at CatIQ Connect Wednesday. The system works by…
For the insurance industry, Canada’s record-breaking wildfire season should raise the question: Can we blame people for where they live? Amid mounting wildfire risk, consumers need incentives from their insurers to apply retrofits that can protect their house from fire…
Some major Canadian P&C insurers are bringing claims processes in-house, arguing it results in a better customer experience, cost efficiencies and consistent claims-handling. But that doesn’t mean the end is near for independent adjusters (IAs). They see a bright future…
Two climate scientists are questioning whether the open-endedness of Category 5 hurricanes is sufficient to communicate the risk of hurricane property damage in a warming climate. Michael Wehner of Lawrence Berkeley National Laboratory (Berkeley Lab) and James Kossin of First…
EDMONTON – Alberta’s fire chiefs are “urgently” asking the provincial government to explain how it’s getting ready for the upcoming wildfire season and to release its preparedness strategy. “There is a growing concern among fire chiefs across the province of…
Even though overall financial results for the Canadian P&C insurance industry were only slightly worse in 2023 compared to the previous year, personal property lines should raise concerns for underwriters, according to a new report from the Property and Casualty…
One large claims firm in Canada has addressed the adjuster talent shortage by establishing a new foundational learning program for early-career adjusters. ClaimsPro’s new national adjuster development program is designed to provide entry level adjusters with technical expertise to tackle…
HALIFAX – Frustration is building with a lack of a commitment from the Nova Scotia government to buy and demolish some of the Halifax area homes ravaged by massive flooding last July. Halifax Regional Council sent a letter on Oct.…
As the Alan Parson Project once sang, “What goes up, must come down,” and predictions about industry profitability made two years ago are unfortunately coming true — including a marked downward trend of financial results in 2023, says one veteran…
Canada’s P&C insurance industry “dodged a bullet” when the courts didn’t automatically read pandemic coverage into business interruption losses, an insurance executive said at the Insurance Institute of Canada’s Industry Trends & Predictions 2024 webinar yesterday. Phil Cook, chairman of…
If insurers’ recent response to drastic storm and fire losses recorded in many parts of the U.S. are any harbinger, some Canadian regions may soon grapple with a future in which standard market insurers simply walk away. It’s already happening…
More than 100 wildfires are still listed as burning in British Columbia thanks to a combination of a busy wildfire season, extreme drought and generally warmer and drier conditions through December. Forrest Tower of the BC Wildfire Service said that…