Canadian Underwriter

Topic Catastrophes

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Cat bonds starting to attract this type of investor

October 15, 2020 by Greg Meckbach

Catastrophe bonds are gaining a reputation as a socially responsible investment, a CatIQ Connect speaker said Wednesday. “Investors seeking investments in the [environmental, social and governance] market are starting to classify cat bonds as a responsible investment,” said Alyson Slater,

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IBC’s solution to ‘finger-pointing’ on who should fund climate resiliency

October 14, 2020 by Greg Meckbach

With weather catastrophes costing the industry billions, insurers are calling for a “whole of society” approach to mitigating climate risk. “Some of our insurer members have been on the vanguard of talking about climate change for many many years now.

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Why the court found the landlord responsible for this winter roof collapse

October 13, 2020 by Greg Meckbach

A courier firm has successfully sued its landlord for $188,000 after the roof of its Halifax area warehouse collapsed under the weight of snow and ice. In Transport Canpar L.P. v. 3258042 Nova Scotia Limited, released Oct. 8, Justice Richard

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Intact’s plan to help you advise your client on disaster resilience

October 2, 2020 by Greg Meckbach

By the end of this year, Intact Financial Corp. is hoping that a research centre it funds will have trained more than 140,000 brokers, home inspectors, realtors, and other professionals on how to make properties resilient to extreme weather, CEO

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‘Much clearer picture’ of how Ottawa will address flood risk coming soon

September 29, 2020 by Greg Meckbach

A special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,

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Alberta’s disaster risk assessment plan in poor shape: auditor

September 29, 2020 by The Canadian Press

EDMONTON – Alberta’s auditor general says the province does a poor job of anticipating and preparing for disasters. In a report released this morning, Doug Wylie says Alberta doesn’t have a consistent plan for evaluating the risk the province faces

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Feds urged to consider backstop for ‘tail risks’ such as pandemic, quake and flood

September 25, 2020 by David Gambrill

Discussions around providing pandemic coverage in the future are highlighting the need to develop a Canadian federal government backstop for other serious “tail risk” events such as earthquakes, floods and wildfires, says the president of the Property and Casualty Insurance

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Winners and losers of the COVID-19 quarter

September 24, 2020 by David Gambrill

Although COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one

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How much these four Alberta cats cost insurers in 2020

September 10, 2020 by Greg Meckbach

Four Alberta catastrophes this year have cost insurers a grand total of about $2 billion, the Insurance Bureau of Canada confirmed this week. A hailstorm June 13, affecting mainly northeast Calgary, topped the list as it caused about $1.2 billion

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Industry needs ‘to find a solution’ to this claims adjusting problem

September 9, 2020 by Greg Meckbach

Something needs to be done to make it easier to let Canadian claims adjusters work outside their home province in the event of a disaster, speakers suggested on a recent webinar. “It’s generally understood that it’s easier to bring U.S.

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COVID-19 compounds ongoing real estate insurance challenges

September 8, 2020 by Adam Malik

The global pandemic isn’t necessarily causing a large number of problems around insurance issues in the real estate sector, but it’s clogging up the pathway to making things better. “The way we’re thinking about real estate and insurance is that,

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Extreme precipitation events have always occurred, but are they changing?

September 8, 2020 by Francis Zwiers, Director, Pacific Climate Impacts Consortium, University of Victoria and Ronald Stewart, Professor, Environment and Geography, University of Manitoba - THE CANADIAN PRESS

This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site.   Extreme weather and climate events causing extensive damage are a