Canadian Underwriter

Topic
Climate Change


Canada risk of earthquake
News CatastrophesClaimsClimate ChangeInsuranceLegislation / RegulationRisk

Which peril might bankrupt the Canadian P&C industry?

June 28, 2023 Canadian Underwriter Staff

Ottawa’s effort to build policy around flood risk in the face of climate change is important, but it overlooks a peril that could be far more catastrophic for Canadian P&C insurers, Alister Campbell, president and CEO of Property and Casualty

Economic and geopolitical risks have insurers walking a tightrope in 2023
News BrokersClimate ChangeCommercial LinesInsuranceRisk

Despite easing inflation, P&C insurers face challenges

June 27, 2023 Philip Porado

Canada’s May inflation rate slipped to an annualized 3.4%, Statistics Canada said Tuesday. That’s the lowest rate in two years and solidly below the 4.4% annual rate posted in April. It’s also in line with the Bank of Canada’s efforts

Industrial building destroyed by a hurricane, NatCat
News BrokersCatastrophesClaimsClimate ChangeCommercial LinesInsuranceMarkets / CoveragesRestoration

How trade agreements could change claims adjusting in Canada

June 20, 2023 Alyssa Di Sabatino

When a NatCat occurs in Canada, it’s common for U.S. adjusters to be on the scene — sometimes before Canadian adjusters, who are bound by provincial licensing restrictions. And while processes for getting either country’s adjusters on the scene are

Motocross rider in red sportswear raced on dirt track in forest
News ClaimsClimate ChangeInsuranceLegalLegislation / Regulation

Top court rejects Travelers appeal in dirt bike accident benefits case

June 15, 2023 by David Gambrill

It’s the end of the line for Travelers’ appeal of an accident benefits case involving a dirt bike driven in a closed course competition. The Supreme Court of Canada rejected the insurer’s leave to appeal Thursday. This means a dirt

A structure destroyed by a wildfire in Drayton Valley, Alta.
News ClaimsClaims CanadaClimate ChangeInsuranceMarkets / Coverages

Canada is experiencing its ‘worst wildfire season of the 21st century’: Blair  

June 13, 2023 The Canadian Press

Canada is experiencing its worst wildfire season of the 21st century.   Emergency Preparedness Minister Bill Blair announced the grim milestone Monday, saying more than 47,000 square kilometres have burned so far this year, with 431 wildfires currently burning across Canada.  

A worker crosses past damage from a wildfire in Hammond's Plains, N.S., during a media tour, Tuesday, June 6, 2023. THE CANADIAN PRESS/POOL, Tim Krochak
News AdjustersCatastrophesClaimsClimate ChangeCommercial LinesInsuranceMarkets / CoveragesRisk

Here’s what adjuster capacity is like for Canada’s wildfires

June 12, 2023 by Alyssa DiSabatino

Firefighters and other first responders have been stretched thin while battling an unprecedented wildfire season in Canada, and such may be the case for claims adjuster capacity as well. Across the industry, it’s a mixed bag of how quickly adjusters

Wildfires releasing CO2 emissions and other greenhouse gases
News CatastrophesClaimsClimate ChangeInsurance

More evacuations in Quebec as record breaking fires continue to burn

June 8, 2023 Sidhartha Banerjee and Jacob Serebrin

MONTREAL — Quebec’s wildfire season, which has forced thousands from their homes and left other communities on high alert, is the worst on record, officials said Wednesday. Premier Francois Legault told reporters in Quebec City that the areas in the

Smoke rises from wildfires in the Halifax area
News AdjustersClaimsClaims CanadaClimate ChangeInsuranceMarkets / CoveragesRestoration

Will this be the worst wildfire season Canada has ever seen?

June 6, 2023 Mia Rabson - THE CANADIAN PRESS

OTTAWA – This is on track to be the worst fire season Canada has ever seen and the risk of wildfires will remain well above average in most of the country throughout the summer, the federal government warned Monday. At

3D render of a topographic map of the US East Coast and the Gulf of St. Lawrence with the clouds from September 24, 2022's Category 4 Major Hurricane Fiona over Nova Scotia, Canada.
News CatastrophesClaimsClimate ChangeInsuranceRisk

Hurricane season has started. What can the industry expect?

June 1, 2023 by Alyssa DiSabatino

The 2023 hurricane season is shaping up to be near normal as the current ocean temperatures (which fuel hurricane activity) and the El Niño patterns (which hinder it), are converging to neutralize one another, industry outlooks suggest.  For the P&C

Climate lawsuit
News Climate ChangeCommercial LinesInsuranceLegalLegislation / RegulationMarkets / Coverages

Why Canadian D&O insurers can breathe a sigh of relief

May 31, 2023 by Jason Contant

D&O lawsuits claiming boards of directors breached their climate-related fiduciary responsibilities would likely not succeed in a Canadian court if the facts are similar to those in a recent U.K. court case, lawyers suggested in a Mondaq article Wednesday. Non-profit

Hurricane Fiona damage in Burnt Island, Nfld.
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / Coverages

How busy will Atlantic hurricane season be?  

May 25, 2023 Seth Borenstein - THE ASSOCIATED PRESS 

Two clashing climatic behemoths, one natural and one with human fingerprints, will square off this summer to determine how quiet or chaotic the Atlantic hurricane season will be.   An El Nino is brewing and the natural weather event dramatically dampens

Damaged property from recent wildfires is shown in Drayton Valley, Alta.
News BrokersCatastrophesClaimsClimate ChangeInsurance

Losses adjusters don’t want to see from Alberta wildfires

May 24, 2023 by Alyssa DiSabatino

With wildfires raging on across Alberta and the west, adjusters are hoping the fires stay remote and spare populous areas from catastrophic losses. “We are seeing some claims and anticipate seeing many more as dangerous conditions persist,” Patricia (P.J.) Davis,