Intact Financial Corporation (IFC) saw an elevated combined ratio (undiscounted) of 119.2% in its Canadian personal property segment in 2023 Q2, driven in part by twice the expected level of Cat losses. The 119.2% combined ratio in Intact’s personal property…
HALIFAX – On the night floodwaters swept through his Nova Scotia county, taking lives and tearing out bridges, Doug Pynch says he had trouble believing an emergency alert that flashed across his phone. It called for residents to evacuate to…
Winds diverting a wildfire burning near Osoyoos, B.C., may have prevented a Cat-level event for the industry, adjusters tell Canadian Underwriter. A raging wildfire scorched 40 square kilometres of land and destroyed several structures in Washington, U.S., before jumping the…
Winds will likely be a major factor in the battle to save the southern British Columbia town of Osoyoos from a raging wildfire, but the latest forecast offers some hope. Environment Canada is calling for northwest winds through the day…
Recent flooding in Nova Scotia has led adjusters to see damages comparable to Hurricane Fiona, but final claims totals aren’t expected to be as high as when Fiona blew through the East Coast last September, claims professionals on the ground…
YELLOWKNIFE — An out-of-control wildfire in the Northwest Territories has destroyed four homes in a community about 100 kilometres northwest of Yellowknife. Wildfire information officer Mike Westwick says the fire has reached the community of Behchoko in Rae. The territory’s…
Canadian property and casualty insurers will be working with new cabinet ministers in the areas of emergency preparedness, public safety (including cybersecurity and auto theft), and housing, infrastructure and communities (including climate resilience), following Prime Minister Justin Trudeau’s major cabinet…
The number of active wildfires in British Columbia has dipped below 450 as cooler weather and recent rain has cut the fire risk, although another hot spell could wipe out those gains as large sections of the province wilt under…
Adjusters are beginning to see claims pour in after thunderstorms dumped record amounts of rain on Nova Scotia Friday. Torrential downpours dropped over two months’ worth of rain (between 200 and 250 millimetres) in about 24 hours on Halifax, Nova…
One of the hallmarks of a warming world is that you never know what may come next. The reasonably stable climate of the last 100,000 years is being thrown into disarray as Earth’s systems are forced out of kilter. For…
With Canada’s record-breaking fire season continuing to burn hot, firefighter availability and the country’s system of sharing resources is stretched thin. For Canada’s P&C insurance industry, the overall lack of firefighters is a concern, given the sheer number of fires…
VANCOUVER – British Columbia hasn’t yet hit the “peak” of its wildfire season, but it has already broken the record for the total area burned in a year, the province’s minister of emergency management said. Officials are now eyeing the…