Canadian Underwriter

Topic
Catastrophes


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

News CatastrophesInsuranceMarkets / Coverages

Industry seeks government help to deal with homes in high-risk flood areas

February 1, 2018 by David Gambrill

Canadian property and casualty insurers cannot be the sole financial backstop for homeowners who build their homes in high-risk flood areas, a senior industry executive told a catastrophe risk conference in Ottawa. “We have to resolve the issue of high-risk

News CatastrophesInsuranceMarkets / CoveragesTechnology

Insurers urged to share cat models to help map flood risk

February 1, 2018 by David Gambrill

Catastrophe models that Canadian insurers use to predict flood damage should be open-sourced, free and accessible to everyone, says the chief executive of an open source cat modelling platform. A common theme at the C4 conference in Ottawa, organized by

News CatastrophesInsurance

Natural disaster recovery: Who owns the risk?

January 31, 2018 by David Gambrill

Canadians are not fully aware of their exposure to natural catastrophe risks, triggering a conversation at the C4 2018 conference in Ottawa about who is responsible for shouldering the heavy load of mounting disaster recovery costs. Organized by Catastrophe Indices

News CatastrophesClaimsConstructionInsurance

Fort McMurray embraces plan to bolster wildfire prevention in region

January 31, 2018 The Canadian Press

FORT MCMURRAY, Alta. – Lawmakers in Fort McMurray have approved a plan to help prevent destructive wildfires such as the one that ravaged the community in 2016. The Regional Municipality of Wood Buffalo council says the five-year mitigation strategy includes