Canadian Underwriter

Topic
Catastrophes


News CatastrophesClimate Change

Third Nor’easter in two weeks pummels Atlantic Canada

March 14, 2018 Michael Tutton - THE CANADIAN PRESS

HALIFAX –  A small steeple that’s a part of Halifax’s urban landscape toppled early Wednesday in a fierce winter storm that left thousands of Maritimers facing power outages, school closures and flight cancellations. Rev. Betsy Hogan, the minister at the

News CatastrophesInsurance

New method can predict where lightning will spark wildfires

March 12, 2018 THE CANADIAN PRESS

CALGARY – Apparently lightning can strike the same place twice after all. A study by researchers at the University of Calgary’s Schulich School of Engineering suggests it’s possible to predict where lightning will strike and how often. They say satellite

News CatastrophesClaimsInsuranceMarkets / Coverages

Aon Benfield suggests Brantford flooding will cost “tens of millions”

March 9, 2018 by Jason Contant

Aon Benfield’s catastrophe model development team, Impact Forecasting, is estimating total economic and insured losses in the tens of millions (U.S. dollars) for the recent flooding in southern Ontario. Catastrophe Indices and Quantification Inc. (CatIQ) told Canadian Underwriter in late

News CatastrophesClaimsEarnings / RatingsInsurance

Aviva Canada seeks average 5% rate increase in personal home and auto lines

March 8, 2018 by David Gambrill

Aviva Canada is putting through an average rate increase of 5% in personal home and auto lines after reporting a combined operating ratio of 102% in its 2017 year-end results. Aviva Canada’s net written premium increased by 15% in 2017

News CatastrophesClaimsInsurance

January winter storm largely battered one province

March 8, 2018 by Jason Contant

A winter storm in central and eastern Canada at the beginning of the year caused more than $54 million in insured damage, with the majority of damage being in Quebec, Catastrophe Indices and Quantification Inc. (CatIQ) reported Thursday. Of the

News CatastrophesClaims

Ontario flooding a “wakeup call” for homeowners to check their policies: IBC

February 27, 2018 by Greg Meckbach

Ongoing flooding issues in southern Ontario are a “wakeup call” that homeowners should be reviewing their water damage coverage, Insurance Bureau of Canada (IBC) cautions. Several communities, including Brantford, Chatham and London, experienced flooding due to mild temperatures and several

News CatastrophesClaimsConstructionInsuranceLegal

Court closes door on homeowner plan to build a basement walkout below a flood line

February 22, 2018 Greg Meckbach, Associate Editor

A Grande Prairie, Alta.-area property owner who installed a basement door below the one-in-100-year flood line should replace it with a window above the flood line, the Alberta Court of Appeal has ruled, upholding efforts by the municipality to stop

News CatastrophesClimate ChangeInsurance

B.C. lacks climate change policies, especially on wildfires and flooding: audit

February 15, 2018 The Canadian Press (CPSTF)

VANCOUVER – British Columbia’s auditor general says the provincial government is working to adapt to the risks posed by climate change but it has no clear plan for wildfires and flooding. Carol Bellringer says there is little monitoring of progress

News CatastrophesInsuranceReinsurance

Insurers urged to play a role in rebuilding economies after disasters

February 9, 2018 by David Gambrill

Insurers should be giving more thought to planning how to rebuild economies in the aftermath of a crisis, a reinsurance executive urges. “To my mind, what is often seemingly forgotten is the piece of economic resilience,” says Alex Kaplan, head

News CatastrophesClaimsInsurance

Disaster planning: How to get insurance funds to evacuees

February 5, 2018 by David Gambrill

Insurance professionals should be planning in advance how they will get emergency funds into the hands of their insured clients during a natural catastrophe, a senior Intact Insurance executive told the C4 2018 conference in Ottawa Friday. Finding alternative ways

News CatastrophesInsuranceMarkets / Coverages

Why insurers aren’t rushing to offer earthquake insurance in Quebec

February 4, 2018 by David Gambrill

Canadian insurers are not rushing in to correct a gap in earthquake coverage in eastern Canada right now, primarily because they have a lot of risk on their plates already, an industry representative told the C4 2018 conference in Ottawa

News CatastrophesClaimsInsuranceMarkets / Coverages

Is storm-ravaged Alberta insurable?

February 4, 2018 by David Gambrill

Alberta has experienced a disproportionate share of the extreme weather catastrophes in Canada over the past decade, causing insurers to question whether the province is a viable place to do business. The question was raised Friday at the C4 conference