Topic Environmental
Becoming better at planning for disasters
June 6, 2022 by Alyssa DiSabatinoIf the ongoing flooding in Manitoba and the Ontario/Quebec derecho storm of last month taught us anything, it’s that we must change how we think about natural disasters, argue the Institute for Catastrophic Loss Reduction’s Glenn McGillivray, and PhD candidate Korey Pasch,…
Why this province’s approach to adjuster capacity needs to go national
June 6, 2022 by Jason ContantThe president of the Canadian Independent Adjusters’ Association (CIAA) is hoping other provinces take note of how Ontario’s insurance regulator has approached adjuster capacity and licensing issues following the May 21 derecho that struck Ontario and Quebec. On May 31,…
Evacuations, local state of emergency in northwest B.C. as flood risk rises
June 6, 2022 by The Canadian PressVANCOUVER – Evacuation orders have been issued for three small communities in northwestern British Columbia as the flood risk rises across the region. Residents of the Terrace-area communities of Old Remo, New Remo and Usk were ordered out of their…
Insurer must defend negligence case, despite pollution exclusion
June 3, 2022 by David GambrillCanada’s top court has essentially confirmed that an insurer’s duty to defend in a commercial insurance case involving a pollution exclusion will depend on the cause of the legal action. In refusing to hear an appeal by The Co-operators, the…
Why adjusters are feeling squeezed during Cat response
June 3, 2022 by Alyssa DiSabatinoAs NatCats increase in frequency, getting adjusters to the scene of a claim has been “tougher than it’s been in years past.” Claims experts blame economic strain and inflationary pressures, as well as to the ongoing war for talent. Following…
B.C. government urges people to prepare for possible flooding as weather warms
June 2, 2022 by The Canadian PressTERRACE, BRITISH COLUMBIA – Warming weather is causing rivers to rise in northern British Columbia, prompting the province to encourage people to prepare for possible flooding. A joint statement from the Ministry of Public Safety and Emergency Management B.C. says…
Brokers want more consistency in overland flood policies
June 2, 2022 by Alyssa DiSabatinoDespite Manitoba being battered by flooding and severe weather since mid-April, many homeowners may find themselves without overland flood coverage, according to the CEO of the Insurance Brokers Association of Manitoba. Following an “unseasonably cold spring,” significant snowmelt in…
Why insureds might need parametric coverage alongside conventional policies
June 1, 2022 by Megan LinkinWhen Hurricane Ida made landfall on Aug. 29, 2021, a handful of parametric insurance policies in Swiss Re Corporate Solutions’ portfolio were affected and potentially triggered. By Sept. 1, all relevant data for determining if the hurricane’s winds met policy-defined…
Could hurricanes in Canada worsen?
June 1, 2022 by Alyssa DiSabatinoThe trend of above-average hurricane seasons is expected to continue this year and Canadian insurers should heed this warning by preparing Atlantic businesses for more severe hurricanes, according to Allianz Global Corporate & Specialty’s Atlantic Hurricane Season Outlook 2022. “Although Canada…
OSFI posts new guidance on climate risk stress testing
May 26, 2022 by Alyssa DiSabatinoThe Office of the Superintendent of Financial Institution’s (OSFI) newly released draft of Climate Risk Management may mean P&C insurers will have to include climate scenario analysis as a part of their stress testing — and it may require insurers to…
Auto insurance: How to handle acid spill claims
May 26, 2022 by Jason ContantInsurers would be well-advised to have experts and claim-handling protocols on hand to identify unique claim situations such as the two sulphuric acid spills in Trail, B.C. several years ago, two forensic engineers say. On Apr. 10 and May 23,…
Emergency alerts when severe weather happens can be improved: Environment Minister
May 26, 2022 by Mia Rabson - THE CANADIAN PRESSOTTAWA – Emergency weather alerts that are broadcast over the mobile network should be improved to make sure they are getting to the right people at the right time, Environment Minister Steven Guilbeault said Wednesday. Guilbeault is in Germany for…