Canadian Underwriter

Topic Catastrophes

Much of Nova Scotia paralyzed following snowstorm
News AlbertaB.C.BrokersCatastrophesClaimsClaims ProfessionalsEmerging RisksEnvironmentalInsurersNova ScotiaPersonal HomeQuebec

How winter storms tally this year compared to last

March 15, 2024 by Alyssa DiSabatino

Maritimers were digging out for days after historic levels of snowfall dropped atop Nova Scotia and P.E.I. in early February.   The multi-day storm produced nearly 5 feet of snow in Cape Breton, N.S. Then about two weeks later, Nova Scotians

News CatastrophesEmerging RisksEnvironmentalInsurersQuebec

Quebec lender ending new mortgages in flood zones. Is insurance next?

March 15, 2024 by Morgan Lowrie - The Canadian Press

QUEBEC — Nearly five years after floods raced through hundreds of Quebec communities and forced thousands from their homes, a major lender’s decision to stop issuing new mortgages in flood zones is the latest challenge for cities trying to adapt

Scenic autumn view of the rural landscape, orchards, vineyards, and wineries of Oliver located in the Okanagan Valley of British Columbia, (B.C.) Canada.
News B.C.CatastrophesClaimsCommercialEnvironmental

B.C. orchards and vineyards to get $70M to replant after disastrous weather

March 14, 2024 by The Canadian Press

BRITISH COLUMBIA — Farmers in British Columbia will get an extra $70 million to replant and strengthen fruit orchards and vineyards after two years of weather-related disasters, says Premier David Eby. The commitment comes after a devastating cold snap in

The McDougall Creek wildfire in West Kelowna, BC.
News AlbertaB.C.CatastrophesClaimsEmerging RisksEnvironmentalInsurersLoss ControlLoss Trends

Night once brought firefighting reprieve, but no longer, Canadian study shows

March 13, 2024 by Brenna Owen - The Canadian Press

BRITISH COLUMBIA — The darkness of night has traditionally signalled reprieve for wildland firefighters, but a new Canadian study shows that’s changing, and drought is the driving force. The availability of bone-dry fuels is the key mechanism promoting extreme fire

The Fraser Valley in B.C. after flooding on Nov. 21, 2021
News B.C.BrokersCatastrophesClaimsEmerging RisksEnvironmentalInsurers

Federal disaster aid for Fraser Valley floods, landslides taking too long: B.C. MP

March 12, 2024 by Mia Rabson - The Canadian Press

The federal government estimates it will need to pay almost $3.4 billion for its share of the disaster recovery bills for flooding and landslides that devastated British Columbia’s Fraser Valley in November 2021. But more than two years after that

Blizzard in city. Winter weather. Deep snow
News AlbertaB.C.CatastrophesClaimsInsurersManitobaSaskatchewan

What Western Canada’s deep freeze cost insurers

March 11, 2024 by David Gambrill

Canada’s property and casualty insurers rang in 2024 by paying out $180 million to repair damage caused by Western Canada’s deep freeze in mid-January. Insurance Bureau of Canada (IBC) released the figure Monday, which is based on industry claims totals

News B.C.CatastrophesClaimsCommercialEmerging RisksEnvironmentalLoss Trends

‘Clean slate’ to reshape B.C. wine industry, after climate-related catastrophes

March 11, 2024 by Brenna Owen - The Canadian Press

The heart of British Columbia’s wine industry is reeling after suffering a litany of climate-related hits, resulting in two years of crop losses in the southern Interior. Record-breaking heat. Wildfires and smoke that repeatedly contaminated grapes. A destructive cold snap

Aviva Canada's 2023 financial results
News AlbertaCatastrophesClaimsClaims Canada ArchiveCommercialInsurersLoss TrendsManagementOntarioOperationsPersonal AutoPersonal HomeSupply Chain

How Aviva Canada fared in 2023

March 7, 2024 by Jason Contant

Aviva Canada ended 2023 with an undiscounted combined operating ratio (COR) of 95.3% and double-digit growth in gross written premiums, despite challenging market conditions that included increased weather-related losses and heightened auto theft.  The undiscounted ratio for 2023 was up

Concept of home insurance price increases
News CatastrophesClaimsClaims Canada ArchiveManitobaNew BrunswickP.E.I.Personal HomeSaskatchewan

How home insurance premiums are trending

March 6, 2024 by Jason Contant

Canadian home insurance policyholders should brace for price increases this year following a nearly 8% year-over-year increase since the beginning of the year, according to internal data from rate comparison site My Choice Financial. Canada’s home insurance landscape is poised for

Aerial view of homes flooded by record-breaking rainfall
News CatastrophesClaimsEnvironmentalOntarioPersonal Home

How clients can be motivated on climate action

March 5, 2024 by Jason Contant

Measures to help mitigate climate change are a known commodity, it’s just a matter of motivating the public, government and regulators to take action, speakers suggested Monday at an industry event. Climate change is irreversible, but its rate can be

A gas station destroyed by the Bush Creek East wildfire in Squilax, B.C.
News B.C.CatastrophesClaimsClaims Canada ArchiveEnvironmentalPersonal Home

Inaccurate data on forest fuels may stoke B.C. wildfires, study finds

March 4, 2024 by Brenna Owen - The Canadian Press

Wildfire fighting and forest management decisions are potentially being hampered by inaccurate government data that misrepresents forest fuel loads in British Columbia’s Interior, a new study has found.  The B.C. government says the provincial wildfire service is working with the

Blue double exposure of money coins stacking with bar graph for financial and investment business concept.
News AlbertaB.C.CatastrophesClaimsInsurersLoss ControlLoss Trends

Why Co-operators posted an underwriting loss in 2023

February 26, 2024 by Alyssa DiSabatino

Co-operators General Insurance Company reported an annual underwriting loss of $184 million in 2023.   This figure, which excludes discounting and risk adjustment, accounts for “a decline of $356.2 million from the underwriting gain of $171.3 million in the same period of 2022.”  Discounted estimates