Canadian Underwriter

Topic Environmental

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Canadian insured Cat losses exceed $2 billion — again

January 11, 2022 by Jason Contant

Canadian insured losses topped $2 billion for the second year in a row, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). “2021 saw much discussion of a ‘new normal’ for Canadians, but when it comes to insured losses,

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Excess of loss case should be heard in Canada, not New York: court

January 10, 2022 by David Gambrill

Several excess insurers have lost their bid to have a lawsuit take place in New York instead of Ontario in a mining insurance case brought before the Ontario Superior Court of Justice. Nine of 22 excess insurers argued that the

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Atmospheric river packing several powerful rainstorms heading for southern B.C.

January 10, 2022 by The Canadian Press

VANCOUVER – Power has been restored in two Vancouver Island communities that lost electricity early last week as snow, ice and wind storms pounded parts of British Columbia, but forecasters warn another powerful system is on the way. BC Hydro

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Insurance isn’t enough: Governments need to do better on natural disaster resilience

January 7, 2022 by The Canadian Press

By Anne E. Kleffner, Professor, Risk Management and Insurance, University of Calgary and Mary Kelly, Chair in Insurance and Professor, Finance, Wilfrid Laurier University This article was originally published on The Conversation, an independent and nonprofit source of news, analysis

News B.C.CatastrophesClaimsCommercialEnvironmental

B.C. farmers ‘white knuckling’ their way through extreme cold after floods, heat dome

January 4, 2022 by Amy Smart - THE CANADIAN PRESS

VANCOUVER – Richard Bosma’s cows had been home for less than a week after an evacuation due to flooding in Abbotsford, B.C., before temperatures plummeted on his farm. Bosma, who credits his faith with helping him remain resilient in a

Damage caused by heavy rains and mudslides is pictured along the Coquihalla Highway near Hope, B.C.
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Main B.C. highway to reopen to essential traffic by Monday after storms

December 16, 2021 by Hina Alam and Amy Smart - THE CANADIAN PRESS

VANCOUVER – A key highway link between British Columbia’s Lower Mainland and the rest of the province will reopen to essential traffic by the end of the day on Monday, five weeks after it was heavily damaged by severe rainstorms.

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Climate change expected to push up payouts

December 13, 2021 by Philip Porado

It’s likely Canada’s not fully prepared for flood risks faces today, let alone for what climate change could bring, Judith Ellison, catastrophe modelling manager at JBA Risk Management told a Dec. 2 CatIQ Connect Quarterly session. She noted many properties

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More than 80,000 customers remain without power in windswept Ontario: Hydro One

December 13, 2021 by The Canadian Press

TORONTO – More than 80,000 Ontarians remained without power Sunday, a day after violent winds blew through the southern part of the province. Utility Hydro One says 450,000 customers lost power during the wind storm, and crews were still working

BC flooding
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B.C. flooding is the costliest severe weather event in province’s history

December 10, 2021 by Jason Contant

It’s official — the massive flooding in southern British Columbia is the costliest severe weather event in the province’s history. In a press release issued late Thursday by Insurance Bureau of Canada (IBC), Catastrophe Indices and Quantification Inc. (CatIQ) said

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Canada on track to reduce fossil fuel use by 62% by 2050

December 10, 2021 by Amanda Stephenson - THE CANADIAN PRESS

CALGARY – A new forecast says Canada is on track for a significant reduction in fossil fuel use by 2050, even as electricity demand grows and demand for crude oil continues. In a new report on long-term Canadian energy supply

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Diverse coastal protections can help limit storm risk

December 9, 2021 by Canadian Underwriter Staff

Both constructed solutions like dykes and seawalls and greener approaches like saltmarsh restoration and dune replenishment can help combat financial and social costs that result from severe storms, a new report noted. “Rising seas, swollen atmospheric rivers and post-tropical storms

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Why pollution liability brokers should pay attention to this auditor general report

December 9, 2021 by Greg Meckbach

The Ontario government should re-visit a rule that leaves polluters off the hook for hazardous spills that cost less than $10,000 to clean up, the province’s auditor general suggests. In 2016, the Ontario environment ministry [now called the Ministry of