Canadian Underwriter

Topic Catastrophes

News BrokersCatastrophesClaimsClaims Canada ArchiveInsurersLoss ControlLoss TrendsPersonal HomeProperty

Why IBAC foresees a national flood insurance program

April 28, 2021 by Greg Meckbach

The recently-released federal budget gives brokers reason to be optimistic that Canada will eventually have a national flood insurance program for homeowners, the head of the Insurance Brokers Association of Canada suggests. “The commitment from the federal government is clear

News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss ControlLoss TrendsPersonal HomeProperty

Insurers seek federal grants for homeowners to improve basement flood protection

April 21, 2021 by Greg Meckbach

The industry is pushing to make federal grants available for Canadian homeowners to reduce basement flood risk. In the fall of 2020, the federal government announced its Greener Homes initiative. When the program rolls out, the plan is to provide

News AlbertaB.C.BrokersCatastrophesInsurersPersonal Home

How to bring the risk of catastrophic events home to your clients

April 9, 2021 by Jason Contant

Canada’s property and casualty insurance industry needs to ramp up its public education efforts to bring the risk of catastrophic events home to the Canadian population, speakers said Thursday during the virtual CIP Society Symposium 2021. “I don’t like to

News AlbertaCatastrophesClaimsInsurersLegal

Intact wins the battle, but loses the war, in Alberta wildfire claim

April 7, 2021 by David Gambrill

Intact Insurance has lost its appeal over procedural unfairness in an Alberta wildfire property damage claim, even though an umpire in the case made a decision based on information that was not placed on the record by either the claimant

News AlbertaCatastrophesEnvironmentalLoss ControlPersonal Home

Review hears closing arguments into proposed reservoir to protect Calgary from floods

April 7, 2021 by Colette Derworiz - THE CANADIAN PRESS

EDMONTON – A lawyer for Alberta Transportation says there’s a serious and urgent need for a proposed reservoir that could protect Calgary from future flooding. Ron Kruhlak made the comment during his closing argument Tuesday before the Natural Resources Conservation

News CatastrophesClaimsEmerging RisksInsurersRisk Managers

Pandemic distraction: Is Canada ready for the next big disaster?

March 30, 2021 by David Gambrill

Focused narrowly on responding to the COVID-19 global pandemic — and preparing for the next one — Canada may be losing sight of preparing for other, potentially more likely disaster scenarios, P&C insurance industry executives commented at the Swiss Re

News CatastrophesEmerging RisksRisk ManagersSupply Chain

Feds seek post-pandemic ideas to prepare for next major disaster

March 16, 2021 by The Canadian Press

OTTAWA – The federal government is looking beyond COVID-19 to prepare for the next large-scale calamity – be it another pandemic, a tsunami or cyberattack. In a notice posted today, Defence Research and Development Canada seeks proposals for studies, technology

News AlbertaCatastrophesClaimsClaims Canada ArchiveInsurersLoss TrendsPersonal HomeProperty

Why home insurance was so profitable for Intact in 2020

March 11, 2021 by Greg Meckbach

The hard market in home insurance is helping Canada’s largest P&C insurer make a healthy profit. But insurers need to maintain pricing discipline in personal property because weather catastrophe costs are increasing over time, suggests the chief financial officer at

News CatastrophesClaimsClaims Canada ArchiveEmerging RisksInsurersLoss TrendsPersonal HomeProperty

Advice from the U.S.: Canada needs exit strategy from national flood

March 4, 2021 by Greg Meckbach

Canada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance

News B.C.CatastrophesClaimsInsurers

How (and when) to turn a post-earthquake fire Cat into a kitten

March 3, 2021 by David Gambrill

Huge insurance bills for natural disasters such as fire following earthquake could be substantially reduced by paying for improvements that amount to a fraction of the damage estimates. But timing is everything when recommending how to “build back better,” says

News Business InterruptionCatastrophesClaims Canada ArchiveInsurersLegalLoss TrendsProperty

Why reinsurers are watching how UK top court defined ‘occurrence’ in business interruption dispute

March 2, 2021 by Greg Meckbach

The British Supreme Court’s interpretation of the word “occurrence,” in its recent COVID-19 business interruption ruling, should not be applied to reinsurance excess of loss treaties, Guy Carpenter experts argue in a recent paper. In a decision released on Jan.

News AlbertaB.C.CatastrophesEmerging RisksEnvironmentalSaskatchewanSupply Chain

Why Canada should invest in ‘macrogrids’ for greener, more reliable electricity

February 25, 2021 by 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. Authors: Brett Dolter, Assistant Professor, Economics, University of Regina; Blake Shaffer,