Canadian Underwriter

Topic Catastrophes

Damage caused by heavy rains and mudslides is pictured along the Coquihalla Highway near Hope, B.C.
News B.C.CatastrophesClaimsEnvironmentalProperty

B.C. ready to proceed with permanent repairs to flood damaged Coquihalla Highway

March 24, 2022 by The Canadian Press

HOPE, B.C. – The Ministry of Transportation and Infrastructure says it is moving ahead with permanent repairs to a key B.C. highway damaged by catastrophic flooding last November. A statement from the ministry says it has begun the process to

Aerial view of a forest
News B.C.CatastrophesClaimsEnvironmental

B.C. wildfire service to increase prevention work from backyards to forests: official

March 21, 2022 by The Canadian Press

KAMLOOPS, B.C. – The director of provincial operations for British Columbia’s wildfire service says the province needs a “holistic,” large-scale program to reduce wildfire risk, starting in backyards, moving to communities then extending to forested lands. Cliff Chapman says planning

Wildfire in Lytton, B.C.
News B.C.CatastrophesClaimsPersonal Home

Wildfire debris removal begins in Lytton

March 8, 2022 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – The first signs of a long-awaited start of rebuilding in fire-ravaged Lytton, B.C., are expected to begin Tuesday, says the village’s mayor.   Jan Polderman said Monday that work to remove debris from the wildfire that destroyed much of

Construction crane in downtown Vancouver
News CatastrophesClaimsCommercialInsurersPersonal Auto

Where Aviva Canada CEO sees commercial and auto lines heading

March 2, 2022 by Jason Contant

Pressures on commercial insurance rates will continue for the near future, but there will still be opportunities to write new business, says Jason Storah, CEO of Aviva Canada. As for auto lines, it remains to be seen how driving levels

2004 Asian earthquake and tsunami
News B.C.CatastrophesClaimsEnvironmental

B.C. climate change initiative needs to look further than recovery, expert says

February 25, 2022 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – A disaster expert who led recovery teams after the earthquake and tsunami in the Indian Ocean that killed more than 230,000 people says British Columbia’s climate response strategy must protect the province from future environmental events. The B.C.

Driving on straight dirt road towards the ominous tornado storm through the cultivated fields of wheat and corn crops.
News CatastrophesClaims

Aon’s Bowen gives 2022 NatCat forecast

February 23, 2022 by Philip Porado

Canada’s seen US$54 billion in economic losses due to weather events since 2010, Steve Bowen, Aon global head of catastrophe insight, told CatIQ’s Feb. 10 webinar, Catastrophes: Past, Present and Innovative Paths Forward. “That’s roughly half of all losses over

A temporary dike in Abbotsford following flooding in B.C.
News B.C.CatastrophesClaimsEnvironmental

B.C. budget includes $2.1B in disaster relief

February 23, 2022 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – British Columbia has earmarked $2.1 billion to fund disaster recovery efforts and future response to the threats posed by wildfires, floods and heat waves in a budget that forecasts a $5.5-billion deficit. Finance Minister Selina Robinson said Tuesday

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

Three white house figurines submerged in water.
News Catastrophes

Protecting homes against flood: What to tell your clients

February 22, 2022 by Alyssa DiSabatino

Catastrophic flooding in communities has resulted in an average 8.2% reduction in the selling price of houses — and material implications on insurance, according to a new report by Intact Centre on Climate Adaptation and the University of Waterloo.   

Volunteers collecting clothing donations for disaster relief
News CatastrophesOntario

Ontario launches new program to get volunteers ready for emergencies  

February 18, 2022 by The Canadian Press

The Ontario government is calling on people 16 years of age and older to join a program that will help the province be better prepared for emergencies including public health crises and natural disasters.   People are invited to register as

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

Looking forward to the future
News CatastrophesEmerging RisksEnvironmentalInsurers

How the P&C industry should shift its thinking about climate risk

February 11, 2022 by Jason Contant

Canada’s P&C insurance industry needs to adapt its climate risk business model to focus more on loss prevention rather than indemnity, a speaker says Thursday at an industry event. And pricing needs to be forward-looking rather than based on historical