Topic Environmental
How is farm fire severity trending?
August 9, 2023 by Jason ContantAs Canadian farms increase in size, so too does the severity of fire losses in the agricultural sector, a farm insurance expert told Canadian Underwriter. In general, the number of farms in Canada is dropping, but they’re getting much larger.…
How long will reprieve for B.C wildfire crews last?
August 9, 2023 by Dirk Meissner - THE CANADIAN PRESSA cooling trend with potential rain showers across much of British Columbia is expected to ease wildfire conditions for the next 36 to 48 hours, but hot, dry weather is set to return by the end of the week. The…
What’s driving Intact’s high personal property combined ratio?
August 3, 2023 by Jason ContantIntact Financial Corporation (IFC) saw an elevated combined ratio (undiscounted) of 119.2% in its Canadian personal property segment in 2023 Q2, driven in part by twice the expected level of Cat losses. The 119.2% combined ratio in Intact’s personal property…
What’s the future for Canada’s reinsurance rates?
August 2, 2023 by Alyssa Di SabatinoNew risks emerging in Canada are leading reinsurers to increase premiums, industry experts have told Canadian Underwriter. Although U.S. damage losses last year far outweighed Canada’s, contributing significantly to escalating reinsurance prices, insured NatCat damage in Canada in 2022 was…
‘Complacency’ blamed for N.S. struggles with flooding, other climate disasters
August 1, 2023 by Michael Tutton - THE CANADIAN PRESSHALIFAX – On the night floodwaters swept through his Nova Scotia county, taking lives and tearing out bridges, Doug Pynch says he had trouble believing an emergency alert that flashed across his phone. It called for residents to evacuate to…
What it would take for Osoyoos wildfires to become a Cat
August 1, 2023 by Alyssa DiSabatinoWinds diverting a wildfire burning near Osoyoos, B.C., may have prevented a Cat-level event for the industry, adjusters tell Canadian Underwriter. A raging wildfire scorched 40 square kilometres of land and destroyed several structures in Washington, U.S., before jumping the…
Winds play key role as wildfire continues to threaten Osoyoos, B.C.
July 31, 2023 by The Canadian PressWinds will likely be a major factor in the battle to save the southern British Columbia town of Osoyoos from a raging wildfire, but the latest forecast offers some hope. Environment Canada is calling for northwest winds through the day…
How the Nova Scotia floods compare to Hurricane Fiona
July 28, 2023 by Alyssa DiSabatinoRecent flooding in Nova Scotia has led adjusters to see damages comparable to Hurricane Fiona, but final claims totals aren’t expected to be as high as when Fiona blew through the East Coast last September, claims professionals on the ground…
Four homes in Northwest Territories lost in wildfire, road closed
July 28, 2023 by The Canadian PressYELLOWKNIFE — An out-of-control wildfire in the Northwest Territories has destroyed four homes in a community about 100 kilometres northwest of Yellowknife. Wildfire information officer Mike Westwick says the fire has reached the community of Behchoko in Rae. The territory’s…
Aging infrastructure struggling to keep up with storms, wildfires, changing climate
July 27, 2023 by Hina Alam - THE CANADIAN PRESSFREDERICTON – The torrential rain that washed out roads, bridges and a key rail link in Nova Scotia on the weekend is being described as another sign that engineers cannot rely on past weather patterns to design infrastructure able to…
Canada’s P&C insurers react to federal cabinet shuffle
July 27, 2023 by Jason ContantCanadian property and casualty insurers will be working with new cabinet ministers in the areas of emergency preparedness, public safety (including cybersecurity and auto theft), and housing, infrastructure and communities (including climate resilience), following Prime Minister Justin Trudeau’s major cabinet…
Cooler weather sees B.C. wildfire numbers dip, but drought still poses concern
July 26, 2023 by The Canadian PressThe number of active wildfires in British Columbia has dipped below 450 as cooler weather and recent rain has cut the fire risk, although another hot spell could wipe out those gains as large sections of the province wilt under…