Canadian Underwriter

Topic B.C.

BC flooding
News B.C.CatastrophesClaimsEnvironmentalInsurers

Cat trends: How 2021 deviated from the norm

February 22, 2022 by Jason Contant

Last year saw a shift from “normal” catastrophic losses by quarter and even geographical location, data from Catastrophe Indices and Quantification Inc. (CatIQ) show. Both the third and fourth quarters of 2021 had “well above average” average catastrophes in terms

Pipeline installation and construction
News B.C.CommercialConstructionEnvironmentalProperty

Politicians condemn violence at Coastal GasLink construction site in northern B.C. 

February 22, 2022 by Hina Alam - THE CANADIAN PRESS

Politicians are denouncing what police have called a violent confrontation in separate attacks against officers and employees at a construction site for a natural gas pipeline being built across northern British Columbia.   Federal Public Safety Minister Marco Mendicino called the

Picture of business people joining gears
News AlbertaB.C.BrokersCommercialManagementOperations

Large brokerage makes fourth acquisition in 2022 

February 18, 2022 by Jason Contant

Navacord Corp. is expanding its reach in northern Alberta with the addition of Stone Insurance Brokers.  Based in Manning, Alta., Stone Insurance Brokers services clients across northern Alberta and British Columbia, specializing in forestry, farming, transportation and oil and gas. 

News B.C.CatastrophesClaimsEnvironmental

Study suggests climate change made B.C. floods at least twice as likely

February 16, 2022 by Bob Weber - THE CANADIAN PRESS

Catastrophic floods that swamped much of southern British Columbia last fall were at least twice as likely because of climate change, suggests new research from Environment Canada. The study, now undergoing peer review, concludes that the likelihood of similar events

Damaged structures in Lytton, B.C.
News B.C.CatastrophesClaimsCommercialPersonal HomeProperty

Wildfire destroys Lytton’s governance records; B.C. gives OK to rewrite bylaws  

February 10, 2022 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – The mayor of the fire-ravaged community of Lytton, B.C., says rewriting the village’s bylaws from scratch will be about as entertaining as going to the dentist but it’s another step in the massive rebuilding effort.   The village’s records

A car and a group of firefighters extinguish the fire on a dried smoked burning meadow
News B.C.BrokersCatastrophesClaims

Wildfire costs show need for preventative measures

February 9, 2022 by Greg Meckbach

NatCat costs from summer 2021’s B.C. wildfires reached $77 million in insured damage in White Rock Lake and $78 million in Lytton. With renovations adding value to homes, and by extension insurable damage risk, it may make sense to encourage

Flood damage in Merritt, B.C.
News B.C.CatastrophesClaimsEnvironmentalProperty

Governments announce $228 million agriculture recovery fund after B.C. floods

February 8, 2022 by The Canadian Press

VICTORIA – Agricultural producers affected by devastating flooding in British Columbia last November can apply for recovery funds through a $228-million package announced Monday by the provincial and federal governments. The total losses for the agricultural sector from flooding that

News AlbertaB.C.EnvironmentalProperty

Indigenous non-profit looks to acquire ownership of Trans Mountain Pipeline

January 24, 2022 by Amanda Stephenson - THE CANADIAN PRESS

CALGARY – A new Indigenous non-profit organization is seeking an ownership stake in the Trans Mountain Pipeline, saying its aim is to make sure communities along the pipeline’s route receive its benefits directly. Nesika Services publicly launched Monday, calling itself

Split screen of a tree in summer versus winter
News B.C.CatastrophesEnvironmentalPersonal Home

Utility says B.C.’s heat, rain and cold in 2021 underscore changing demand for power

January 21, 2022 by Jason Contant

VANCOUVER – British Columbia endured sizzling summer heat and bone-numbing cold to end 2021 and the province’s electrical utility says the result was a record-breaking, year-round demand for power, launching a trend that’s not expected to end soon. In a

Boats moored in False Creek with a view of downtown Vancouver
News AlbertaB.C.BrokersCatastrophesPersonal HomeProperty

Behind the hard-hit condo insurance market in B.C. and Alberta

January 20, 2022 by Jason Contant

Wood frame construction for stratas, increased building material costs, and earthquake exposure in British Columbia contributed to the skyrocketing condo insurance premiums that hard market sector saw over the past few years, an Aon executive says. “There’s a lot more

Picture of No Diving sign next to a lake
News B.C.ClaimsClaims Canada ArchiveCommercialLegalLiabilityRisk Managers

The case for tracking your risk advice

January 19, 2022 by David Gambrill

The City of Revelstoke, B.C., has been found 35% contributorily negligent for not adhering to a recommendation contained in a 2011 risk management audit, which advised to maintain painted ‘No diving’ signs on a raft in Williamson Lake Park. “The

Condo with sunny blue sky background
News AlbertaB.C.ClaimsInsurersLoss TrendsPersonal Home

Signs for optimism in the condo insurance market?

January 18, 2022 by Jason Contant

Condo insurance premiums in Canada appear to be stabilizing following years of premium and deductible increases. “You should see some flattening, maybe some tapering, in some insurance rates in this sector in the near future for most good risks and