Topic
Claims
How much insurers can expect to pay for Canadian wildfires
August 23, 2023 by Alyssa DiSabatinoCanadian insurers could see between $700 million and $1.5 billion in insured losses from this summer’s wildfire season, DBRS Morningstar predicts in new commentary. Despite the high loss figures, the claims incurred in 2023 Q3’s wildfire season will be manageable…
Yellowknife mayor says it’s too unsafe for residents to return to the capital city
August 23, 2023 by Alyssa DiSabatinoYELLOWKNIFE — The mayor of Yellowknife says it’s not safe for residents to go home to the territorial capital, but notes city officials are working on a return plan as a fire continues to burn about 15 kilometres away. Most…
How wildfires are affecting some of Canada’s largest P&C insurers
August 22, 2023 by Alyssa DiSabatinoDespite facing a heavy loss year and an unusually active wildfire season, four of Canada’s publicly traded P&C companies — Intact Financial Corporation, Fairfax Financial Holdings, Definity Financial Corporation and Trisura Group Ltd. — reported positive underwriting profits thus far,…
Almost 60 buildings lost to wildfire in Kelowna, B.C., area, fire chiefs say
August 22, 2023 Dirk Meissner The Canadian PressA West Kelowna man says he is still in shock after the wildfire tearing through the region burned down his condo and forced him and his eight-months-pregnant wife to evacuate twice in one night. Randy Miskuski said his family had…
Update on Yellowknife wildfire
August 21, 2023 The Canadian PressYELLOWKNIFE, N.W.T – Firefighters battling a wildfire near the capital of the Northwest Territories shifted from defence to offence Monday after a weekend of cooler temperatures, favourable winds and some rain. “We’re in a position to move to direct attack…
What P&C industry can expect from Kelowna wildfires
August 21, 2023 by David GambrillIn an eerie coincidence, almost 20 years to the day wildfires caused $200 million in insured damage back in 2003, Kelowna is burning once again. About 30,000 people in the southern Interior region of B.C. — about a third of…
Is your client covered for pothole damage?
August 18, 2023 by Jason ContantThe City of Toronto’s Saturday launch of its fifth pothole repair blitz this year brings insurance coverage for pothole damage back into the spotlight. In general, pothole damage in Ontario is covered under optional collision or all-perils auto insurance coverage,…
Homes ablaze in West Kelowna, B.C. after overnight wildfire
August 18, 2023 The Canadian PressWEST KELOWNA, B.C. – Homes are currently ablaze in West Kelowna, B.C., after a devastating overnight battle with a wildfire that has already destroyed a significant number of properties. The fire has been “exponentially worse” than expected, says Jason Brolund,…
Thousands of residents around West Kelowna, B.C., on evacuation alert as fire flares
August 17, 2023 The Canadian PressKAMLOOPS, B.C. – Thousands of British Columbia residents around West Kelowna have been warned to be ready to leave on short notice because of a nearby spot fire that charred more than half a square kilometre in just a few…
Adjusters handling early claims from N.W.T. wildfires
August 17, 2023 by Jason ContantInsurance adjusters are preparing for an influx of claims as wildfires continue to burn in Northwest Territories, with the capital city of Yellowknife coming under an evacuation order as the flames are predicted to arrive at the city’s doorstep on…
Aviva Canada CEO’s take on the commercial lines market
August 17, 2023 by David GambrillCanada’s commercial lines market is starting to become more competitive in certain segments after a few years of a hard market during the post-COVID period, Aviva Canada’s CEO observes. But future economic uncertainty suggests insurers aren’t yet ready to plunge…
Winds, heat and lightning trigger concern as two B.C. wildfires surge
August 16, 2023 The Canadian PressVANCOUVER – Wildfire crews in British Columbia are bracing for an incoming weather system expected to bring strong winds and dry lightning by Thursday, but conditions are already flaring in at least two areas of the province. The Regional District…