CALGARY – The Canada Energy Regulator has approved preliminary interim tolls that would see oil companies pay nearly twice as much to ship crude on the expanded Trans Mountain pipeline as what was estimated in 2017. In a decision issued…
The 2023 Atlantic hurricane season has officially come to an end, ranking fourth for the most named storms in a year since 1950. The above-normal season, which officially ended Nov. 30, saw 20 named storms, including seven hurricanes and three…
CHARLOTTETOWN — The privately owned electricity utility in Prince Edward Island wants ratepayers to cover $37 million in costs incurred during post-tropical storm Fiona in 2022. Maritime Electric, a subsidiary of Fortis, has applied to the Island’s regulatory commission for…
Reinsurers have their ears to the ground on climate change losses, and Canada’s record wildfire season is adding to the heat, according to industry experts. But while reinsurers are keeping a close watch on wildfire risk, tallied wildfire losses…
TORONTO – The dangers of a changing climate could add more than $4 billion per year to the cost of maintaining Ontario’s public infrastructure over the rest of the century, the province’s financial watchdog said Wednesday. But the report from…
According to Ngawang (Noah) Choedon, everyone has a responsibility to give back. It’s why she takes every opportunity to help develop the new generation of P&C entrants. It’s also why she was recognized with the Insurance Institute of Canada’s Emerging…
HALIFAX – A plan is now in place to create the kind of detailed flood plain maps that some of Nova Scotia’s emergency managers have said they lacked when torrential flooding occurred in July. Byron Rafuse, deputy minister of the…
Quebec’s forest fire prevention agency says the area burned by wildfires this year was greater than the previous 20 years combined. SOPFEU director general Eric Rousseau told reporters today that some 4.5 million hectares of land burned during this year’s…
CHAPAIS, Que. – One of Quebec’s youngest mayors announced Wednesday she will be stepping down next week, suffering the effects of burnout from handling last summer’s historic wildfire season in her northern community. Isabelle Lessard was acclaimed in 2021 as…
Intact saw premium growth in 2023 Q3, but its profitability took a hit because of inflation and the Canadian wildfires, the company reported. Intact saw single-digit premium growth in its personal and commercial lines in 2023 Q3, and predicts this…
The massive amount of water and firefighting resources required to put out hay barn fires is just one reason why these blazes are so stubborn, an industry professional said at the Farm Fire Summit last week. A multi-million-dollar hay barn…
Escalating natural catastrophe losses are top of mind for specialty insurers in several different commercial lines, most notably property, said Jeff Coulson, director of claims for commercial specialty at Echelon Insurance. There were 15 declared Cats (events causing insured claims…