Canadian Underwriter

Topic Catastrophes

News CatastrophesEnvironmentalInsurers

How much are reinsurers underestimating climate change risk?

October 18, 2021 by Jason Contant

Global reinsurers could be underestimating climate change exposure by up to 50%, according to a recent analysis by S&P Global Ratings.  “Our scenario analysis suggests that reinsurers’ estimates of their exposure to natural catastrophe risk — and therefore physical climate

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Wildfire that destroyed Lytton, BC was not train-related, safety board finds

October 15, 2021 by Jason Contant

There is no evidence that railway operations contributed to the wildfire that destroyed the town of Lytton, British Columbia this summer, an investigation from the Transportation Safety Board of Canada (TSB) has found. “The TSB has not identified any link

News CatastrophesEnvironmental

Peatlands protect against wildfire and flooding, but they’re still under attack in Canada

October 13, 2021 by The Canadian Press

By Edward Struzik, Fellow, Queen’s Institute for Energy and Environmental Policy, School of Policy Studies, Queen’s University, Ontario. This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure

Feature AdjustersB.C.CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsPersonal HomeProperty

A fire season like none other

October 6, 2021 by Jason Contant, Online Editor

Even as B.C. wildfires continue to burn, investigations begin and claims start rolling in.

Feature AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsConstructionInsurersLoss ControlLoss TrendsOntarioPersonal HomePropertySupply Chain

Tornado blows change through Ontario bylaws

October 5, 2021 by Jason Contant, Online Editor

Municipalities respond to series of tornadoes with new rules governing building construction.

Feature CatastrophesClaimsClaims Canada ArchiveLoss TrendsProperty

Warm… but no longer cosy

October 2, 2021 by Greg Meckbach, Associate Editor

Rising sea levels, more intense rainfall and an increase in fire weather are among the effects the Canadian industry could feel from climate change.

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Storms in Saskatchewan and Alberta cost $120 million: CatIQ

September 27, 2021 by Jason Contant

Two storms this summer across Saskatchewan and Alberta caused a total of $120 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Severe storms beginning Aug. 31 brought flash flooding and large hail that

News B.C.CatastrophesClaimsClaims Canada ArchiveInsurersLoss ControlLoss TrendsPersonal HomePropertyRisk Managers

Okanagan Lake area wildfire could cost the industry nearly $80 million

September 24, 2021 by Greg Meckbach

An interior British Columbia wildfire this past August, which forced the evacuation of more than 1,000 properties, will cost the industry an estimated $77 million, the Insurance Bureau of Canada said Thursday. The White Rock Lake fire began on Aug.

News CatastrophesEnvironmentalInsurers

Canada’s warming may hurt access to insurance: DBRS

September 24, 2021 by James Langton - Investment Executive

An increase in extreme weather events may threaten the availability of property insurance in Canada, warns DBRS Morningstar in a new report. The rating agency said that Canadian property and casualty (P&C) insurers have, so far, proven resilient in the

News B.C.CatastrophesClaimsProperty

B.C. must shore up risk crisis communications before, during, after wildfires: report 

September 23, 2021 by The Canadian Press

KAMLOOPS, B.C. – Upgrades to communications systems in British Columbia’s wildfire zones are needed to save lives and properties, says a report released Wednesday.   The Thompson Rivers University report, which examined B.C.’s communications practices during the devastating wildfire seasons of

B.C. wildfires
News CatastrophesClaimsLoss TrendsPersonal HomeProperty

Insurance Bureau reacts to federal election results

September 22, 2021 by Greg Meckbach

Canada’s new government needs to focus on climate adaptation, says the industry’s association of property and casualty insurers. “After an unprecedented year of heat and wildfires across much of Canada, climate adaptation must receive more attention in the coming months

News B.C.CatastrophesEmerging RisksEnvironmental

Wildfire and flood disasters are causing ‘climate migration’ within Canada

September 22, 2021 by The Canadian Press - THE CONVERSATION

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. ___ Author: Yvonne Su, Assistant Professor in the Department of Equity