Topic Claims
Most Ontario wildfire evacuees headed home, one First Nation still evacuating
August 13, 2021 by The Canadian PressDRYDEN, Ont. – Most residents of First Nations in northwestern Ontario who were evacuated due to the threat of nearby wildfires are heading home. The province says hundreds of members of three communities — Pikangikum First Nation, Deer Lake First…
Pandemic-related employment practices liability claims in Canada may increase, brokerage CEO says
August 12, 2021 by Canadian Underwriter StaffWhile U.S. brokers are seeing a surge in employment practices liability insurance (EPLI) claims due to an increase in pandemic-related lawsuits, brokers north of the border can expect less turmoil, a brokerage CEO says. Almost 3,000 employment lawsuits related to…
How Aviva Canada fared in the first half of 2021
August 12, 2021 by Jason ContantA lack of catastrophic events in the first half of 2021 and decreased personal auto and commercial claims related to COVID-19 contributed to a 6.7% improvement in Aviva Canada’s combined operating ratio (COR) in the first half of 2021 compared…
Grasshopper infestation affecting Prairie agriculture sector
August 11, 2021 by Brittany Hobson - THE CANADIAN PRESSA pattern of dry, hot weather across the Prairies over the past few years has resulted in a grasshopper infestation of epic proportions, with some experts saying the nuisance is negatively affecting every part of the agriculture industry. For several…
Some evacuation orders, alerts, lifted near B.C. wildfire but heat set to return
August 10, 2021 by The Canadian PressResidents of nearly 400 properties on one flank of a destructive wildfire in British Columbia’s southern Interior are being allowed to head home. The Thompson-Nicola Regional District has downgraded an evacuation order to an alert. It has also issued an…
4 causes of social inflation and why it’s costing your clients more
August 10, 2021 by Greg MeckbachSocial inflation is one reason your client’s commercial rates may be outpacing the insurers’ loss cost trends, a Bermuda insurer CEO suggests. “I define social inflation as including politicians, regulator, or courts re-defining wording in favour of claimants,” said Albert…
Brokers ‘positive about entertainment insurance’ as industry emerges from crushing pandemic-related losses
August 10, 2021 by Canadian Underwriter StaffAs the entertainment and events industry emerges from COVID-19, Canadian brokers are becoming more confident about securing coverage for their clients. Claims from cancelled or postponed events and productions have been a large source of pandemic-related losses for the global…
How this year’s B.C. wildfire season compares to previous years
August 10, 2021 by Jason ContantIt looks like this year’s wildfire season in British Columbia could be one for the record books. Between Apr. 1 and Aug. 9 of this year, the province saw 1,456 wildfires and nearly 650,000 hectares of area burned. This compares…
How Lloyd’s Canada says the industry can better prepare for the next time a pandemic causes business interruption
August 9, 2021 by Greg MeckbachLloyd’s is talking to Canadian government authorities about how business interruption risk, arising from a pandemic, can be transferred in the future. “In Canada, Lloyd’s has talked to the federal finance department and different provincial government regulators,” Lloyd’s Canada president…
Swiss Re predicts record-high global insurance premiums by end of 2022
August 6, 2021 by Canadian Underwriter StaffAs the world economy steadily recovers from the COVID-19 pandemic, Swiss Re forecasts that global insurance premiums will reach a never-before-seen U.S.$7 trillion by the end of 2022. According to the global reinsurer’s recent World Insurance Sigma report, the pandemic…
July hailstorm in Calgary caused $247 million in insured damage: CatIQ
August 6, 2021 by Canadian Underwriter StaffA massive hailstorm that hit Calgary on July 2 caused $247 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Hail, rain and wind damage from the severe storm resulted in extensive flooding of…
Wildfire devastates community of Monte Lake in B.C.’s southern Interior
August 6, 2021 by The Canadian PressMONTE LAKE, B.C. – Another British Columbia community has been devastated by a raging wildfire and more could be at risk from a blaze in the southern Interior between Kamloops and Vernon. Ken Gillis, chairman of the Thompson-Nicola Regional District,…