Topic
Climate Change
Insurers bring Cat claims in-house: How independent adjusters adapt
February 7, 2024 Jason ContantSome 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…
Do we need a Category 6 for hurricanes?
February 6, 2024 by Jason ContantTwo 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…
B.C. ski resorts shut as warm, wet weather strips mountains of snow
February 2, 2024 The Canadian PressVANCOUVER – All three of Metro Vancouver’s local ski hills are closed for a second day at what should be the peak of the season, as a spate of warm, wet weather strips mountains bare. Grouse Mountain and Mount Seymour…
Alberta fire chiefs want provincial wildfire plan released before season begins
February 1, 2024 The Canadian PressEDMONTON – 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…
Flood, avalanche risks remain elevated throughout B.C.’s South Coast
January 30, 2024 The Canadian PressThe flood and avalanche risks remain elevated throughout British Columbia’s South Coast, where atmospheric rivers continue to bring heavy rains along with unseasonably warm temperatures. B.C.’s River Forecast Centre is maintaining a flood warning for the Squamish River, saying flows…
‘Atmospheric river’ could bring 300 millimetres of rain to parts of southern B.C.
January 26, 2024 The Canadian PressOfficials in B.C. are warning of heavy rainstorms for the South Coast region starting on Saturday. Environment and Climate Change Canada says West Vancouver Island and the Coast Mountains could receive up to 300 millimetres of rain over five days,…
How reconstruction companies are improving repair timelines
January 22, 2024 Alyssa Di SabatinoA shortage of tradespeople isn’t making it easy for the restoration industry to recover from extended repair cycle times during the pandemic. While cycle times are starting to improve, frequent NatCats and a lack of qualified talent are stretching capacity…
Decade after fatal fire, some Quebec seniors’ residences unable to install sprinklers
January 22, 2024 Pierre Saint-Arnaud – The Canadian PressMONTREAL – Ten years after 32 people died in a fire that ripped through a residential complex for seniors in rural Quebec, around a quarter of all private seniors’ residences in the province are still struggling to comply with a…
Ten per cent of country’s insured losses in Alberta alone
January 12, 2024 by Alyssa DiSabatinoFor all the smoke, fire and flood that happened across Canada this year, damage to property in Alberta alone exceeded $330 million, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). That’s nearly 10% of all insured losses across…
What the industry learned from a 20-year-old wildfire
January 11, 2024 Jason ContantThe devastation of British Columbia’s Okanagan Mountain Park wildfire in 2003 was unlike anything Janna Smart had adjusted before. “It was full of raw emotion, chaos, destruction, and limited experience in handling a wildfire in a densely populated area. It…
What’s at risk if the national flood insurance program stalls
January 10, 2024 by Alyssa DiSabatinoInsurers will need to be informed about their role in the national flood insurance program by Spring 2024 if it’s to be operational before the next federal election, an Insurance Bureau of Canada (IBC) executive tells Canadian Underwriter. The…
NatCats taking their toll on Canadian property lines
January 8, 2024 by David GambrillAnother year, another $3 billion in NatCat insurance claims payouts. Canada’s property and casualty insurance industry paid out more than $3.1 billion last year in claims related to natural catastrophes, based on the latest numbers from Catastrophe and Indices Quantification…