Canadian Underwriter

Topic New Brunswick

Petitcodiac river in Moncton, N.B.
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New Brunswick to set caps on disaster financial assistance for homeowners

March 16, 2023 by The Canadian Press

FREDERICTON — The New Brunswick government announced Wednesday it is capping financial compensation for properties that repeatedly experience damage from climate-related disasters. Public Safety Minister Kris Austin said the changes, which take effect immediately, will increase to $200,000 the total

New Brunswick road flooded
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N.B. hopes for quiet spring but asks residents to be prepared for possible floods

March 15, 2023 by The Canadian Press

FREDERICTON — The New Brunswick government is hoping for a quiet spring season along the province’s Saint John River, but officials say it’s too early to predict flooding. Kyle Leavitt, director of New Brunswick Emergency Management Operations, says melting of

Flooded road in New Brunswick
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Government caps disaster assistance, lowers threshold for property buyouts

February 23, 2023 by Jason Contant

Another provincial government is changing the way it provides disaster financial assistance by capping assistance for claims related to the same type of disaster at $200,000. New Brunswick is increasing the maximum payout for structural damage to $200,000, setting a

A crushed vehicle from a fallen tree following a tornado in Tweed, Ont. on July 25, 2022.
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Is Canada seeing more tornadoes every year?

February 14, 2023 by Jason Contant

Canada saw 117 recorded tornadoes across the country during the 2022 season, tying 2021 for the highest-ever single season on record, according to the Northern Tornadoes Project (NTP). As with 2021, 29 of the tornadoes reached up to EF2 on

Looking to the future concept
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What’s next for Wawanesa after senior executive shuffle?

January 30, 2023 by Jason Contant

As Wawanesa Mutual Insurance Company changes its leadership structure with the appointment of three industry professionals to more senior leadership roles, industry veteran Carol Jardine — currently the insurer’s president of Canadian P&C operations — is also set to retire

Conference table close-up
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Wawanesa appoints two industry veterans to new leadership roles

January 26, 2023 by Jason Contant

Wawanesa Mutual Insurance Company has changed the leadership structure of its Canadian operations with the appointment of industry professionals Anna McCrindell and Graham Haigh to senior vice president and chief operating officer roles. As SVP & COO – East, McCrindell

Satellite image of the globe with the national flag across Canada's surface
News BrokersCatastrophesClaimsEmerging RisksInsurersLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Quebec

How Canada’s insured cat losses stack up globally

January 25, 2023 by Alyssa DiSabatino

Severe weather made 2022 the third costliest year on record for Canadian insurers, and the fifth costliest year globally, said a report this week from Aon.  These events point to a severe gap in insurance protection in some parts of

Power lines in Ottawa knocked out by the May 22 derecho storm
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Where 2022 tallies for insured damages in Canada

January 18, 2023 by Canadian Underwriter Staff

Severe weather events in 2022 gave Canada its third worst year for insured damage in the country’s history. Insured damage for severe weather events across Canada hit $3.1 billion last year, the third-highest total of NatCat losses in the nation’s

Icicles hanging from a roof during winter
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Freezing rain causes power outages, forces closures across Atlantic Canada

January 16, 2023 by The Canadian Press

HALIFAX – Schools across much of Atlantic Canada are closed today as a sprawling winter storm continues to linger over the region. Rainfall and freezing rain warnings remain in effect for all of New Brunswick and P.E.I., and most parts

The tail of an Air Canada aircraft behind a pile of snow at Vancouver airport
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What claims adjusters are seeing from holiday winter storm

January 10, 2023 by Jason Contant

Wind and water claims make up the bulk of the ‘bomb cyclone’ weather event that swept through eastern Canada during the holidays last month, adjusters told Canadian Underwriter. Much of North America was bombarded by heavy snowfall, strong winds and

Buildings sit in the water in Rose Blanche-Harbour Le Cou
News CatastrophesClaimsInsurersNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Property

Hurricane Fiona insurance damage estimate revised to $800 million

January 5, 2023 by David Gambrill

Hurricane Fiona has now caused insured damage of more than $800 million in Canada, according to Catastrophe Indices and Quantification Inc. (CatIQ). CatIQ’s initial estimate in October 2022 was $660 million. Hurricane Fiona now sits as the seventh-largest catastrophe in

Houses along the shores of Lake Erie following December's 'bomb cyclone'
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How much did December’s ‘bomb cyclone’ cost Canadian insurers?

January 5, 2023 by Jason Contant

The ‘bomb cyclone’ that ripped through eastern Canada during the holiday season has been declared a catastrophe, Catastrophe Indices and Quantification Inc. (CatIQ) confirmed to Canadian Underwriter Thursday. The winter storm brought heavy snowfall, strong winds and blizzard conditions to