Canadian Underwriter

Insured losses from catastrophic events in Canada hit $1.33 billion in 2017: CatIQ


January 8, 2018   by Staff


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fire-wild-02Canada suffered $1.33 billion in insured losses caused by catastrophic events in 2017, according to Catastrophe Indices and Quantification Inc. (CatIQ).

B.C. had its worst wildfire season on record, and parts of Ontario and Quebec were besieged by severe flooding, the research group noted.

Related: What brokers can learn from CatIQ’s Canadian Catastrophe Conference

CatIQ will be hosting its third annual Canadian Catastrophe Conference (C4) later this month, delving into topics such as flood risk management, public communication in times of crisis and coping with wildfires.

“We have more people building in areas that have a wildfire–urban interface,” Laura Twidle, CatIQ’s director of catastrophic loss analysis, told Canadian Insurance Top Broker late last year. “With these more extreme weather events coming down in the future, we could get more drought conditions, which could lead to more wildfires.”

The conference will also feature a national disaster mitigation workshop.

“This is such an important opportunity for diverse stakeholders from the private, public, and academic sectors to share best practices and lessons learned to enable our communities to be more resilient,” Jim Abraham, director of the Canadian Climate Forum, said in a news release.

The third annual C4 conference takes place at the Hilton Lac-Leamy in Gatineau, Que., from Jan. 31 to Feb. 2, 2018.

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This story was originally published by Canadian Insurance Top Broker.