Canadian Underwriter

Topic P.E.I.

Conference table close-up
News AlbertaB.C.BrokersHRInsurersManagementManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioOperationsP.E.I.QuebecSaskatchewan

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
News AlbertaB.C.CatastrophesClaimsEmerging RisksEnvironmentalInsurersLoss TrendsManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.Personal AutoPersonal HomePropertyQuebecSaskatchewanYukon

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
News ClaimsEnvironmentalNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.

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
News AdjustersB.C.CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsEnvironmentalNew BrunswickNova ScotiaOntarioP.E.I.Personal Home

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'
News CatastrophesClaimsEnvironmentalInsurersNew BrunswickNova ScotiaOntarioP.E.I.Personal HomeQuebec

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

Cleaning up in Charlottetown after Fiona
News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsEnvironmentalP.E.I.Personal HomeSupply Chain

P.E.I. utility Maritime Electric estimates cost of Hurricane Fiona

December 13, 2022 by The Canadian Press

CHARLOTTETOWN – Prince Edward Island’s electric utility says it will cost about $35 million to repair damage to the company’s distribution system caused by post-tropical storm Fiona. A spokesperson for Maritime Electric said that estimate is based on invoices received

Close up shot of a barometer pressure gauge ranging from "stormy" to "very dry"
News BrokersCatastrophesClaimsEmerging RisksEnvironmentalInsurersLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.

What’s the better parametric insurance trigger for Canadian hurricanes?

December 12, 2022 by Alyssa DiSabatino

Hurricane risk differs in Canada, which is why parametric insurance triggers that work in the U.S. may not be as effective in Canada, said a panellist in a Canadian Underwriter webinar.   Barometric pressure may be a better parametric trigger

Board meeting
News InsurersMergers and AqcuisitionsP.E.I.

Canadian P&C insurer reveals plan to go private

December 9, 2022 by David Gambrill

The Insurance Company of Prince Edward Island (ICPEI) has proposed deal that would have company directors, executives, certain employees and investors buy a majority stake in the insurance company and take its ownership private. The proposed deal was announced Friday

Business merger and acquisition M&A concept
News BrokersCommercialMergers and AqcuisitionsNew BrunswickP.E.I.

Westland expands into two new provinces

December 7, 2022 by Jason Contant

Westland Insurance has entered into Prince Edward Island and New Brunswick for the first time, making it one of the largest insurance brokers in Atlantic Canada. The western Canadian-based brokerage announced Tuesday the acquisition of Hyndman Insurance Group, Sears Insurance,

Man standing in water with an umbrella and dark clouds overhead
News AlbertaB.C.CatastrophesClaimsEmerging RisksInsurersLoss TrendsManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomeQuebecSaskatchewan

Which insured perils are of most concern to your clients?

December 5, 2022 by David Gambrill

Winter storms and severe rain or flooding events top the list of insured perils concerning Canadians, according to a new Angus Reid poll commissioned by First Onsite Property Restoration. Nationally, concern about winter storms (67%) edged out worries about severe