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Wildfire in Halifax
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What’s driving Intact’s high personal property combined ratio?

August 3, 2023 by Jason Contant

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

A washed-out roadway in Nova Scotia following flooding.
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‘Complacency’ blamed for N.S. struggles with flooding, other climate disasters

August 1, 2023 by Michael Tutton - THE CANADIAN PRESS

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

An evacuation order has been issued for more than 700 properties in Osoyoos, B.C.
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What it would take for Osoyoos wildfires to become a Cat

August 1, 2023 by Alyssa DiSabatino

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

An evacuation order has been issued for more than 700 properties in Osoyoos, B.C.
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Winds play key role as wildfire continues to threaten Osoyoos, B.C.

July 31, 2023 by The Canadian Press

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

Buildings are seen in floodwater following a major rain event in Halifax on Saturday, July 22, 2023. A long procession of intense thunderstorms have dumped record amounts of rain across a wide swath of Nova Scotia, causing flash flooding, road washouts and power outages
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How the Nova Scotia floods compare to Hurricane Fiona

July 28, 2023 by Alyssa DiSabatino

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

A forest fire burns among a residential area
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Four homes in Northwest Territories lost in wildfire, road closed

July 28, 2023 by The Canadian Press

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

Prime Minister Justin Trudeau speaks following a cabinet shuffle
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Canada’s P&C insurers react to federal cabinet shuffle

July 27, 2023 by Jason Contant

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

Donnie Creek wildfire in B.C.
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Cooler weather sees B.C. wildfire numbers dip, but drought still poses concern

July 26, 2023 by The Canadian Press

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

Buildings are seen in floodwater following a major rain event in Halifax on Saturday, July 22, 2023. A long procession of intense thunderstorms have dumped record amounts of rain across a wide swath of Nova Scotia, causing flash flooding, road washouts and power outages
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Claims pouring in for record Nova Scotia rainstorm

July 24, 2023 by Alyssa DiSabatino

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

Person running away from a tidal wave or tsunami
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Can insurers and reinsurers survive looming NatCat trends?

July 21, 2023 by Glenn McGillivray

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

U.S. Forest Service co-pilot helping fight Canadian wildfires
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Canada’s wildfires: Is industry concerned about lack of firefighters?

July 21, 2023 by Jason Contant

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

A forest fire near Peachland, B.C.
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Fire and drought: What does 2024 hold for British Columbia? 

July 20, 2023 by Brieanna Charlebois - THE CANADIAN PRESS

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