Topic Catastrophes
B.C. ready to proceed with permanent repairs to flood damaged Coquihalla Highway
March 24, 2022 by The Canadian PressHOPE, 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…
B.C. wildfire service to increase prevention work from backyards to forests: official
March 21, 2022 by The Canadian PressKAMLOOPS, 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 debris removal begins in Lytton
March 8, 2022 by Dirk Meissner - THE CANADIAN PRESSVICTORIA – 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…
Where Aviva Canada CEO sees commercial and auto lines heading
March 2, 2022 by Jason ContantPressures 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…
B.C. climate change initiative needs to look further than recovery, expert says
February 25, 2022 by Dirk Meissner - THE CANADIAN PRESSVICTORIA – 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.…
Aon’s Bowen gives 2022 NatCat forecast
February 23, 2022 by Philip PoradoCanada’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…
B.C. budget includes $2.1B in disaster relief
February 23, 2022 by Dirk Meissner - THE CANADIAN PRESSVICTORIA – 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…
Cat trends: How 2021 deviated from the norm
February 22, 2022 by Jason ContantLast 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…
Protecting homes against flood: What to tell your clients
February 22, 2022 by Alyssa DiSabatinoCatastrophic 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. …
Ontario launches new program to get volunteers ready for emergencies
February 18, 2022 by The Canadian PressThe 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…
Study suggests climate change made B.C. floods at least twice as likely
February 16, 2022 by Bob Weber - THE CANADIAN PRESSCatastrophic 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…
How the P&C industry should shift its thinking about climate risk
February 11, 2022 by Jason ContantCanada’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…