Editor’s Note: This version corrects an earlier one in which it was suggested Intact CEO Charles Brindamour was predicting the beginning of a soft market cycle for the Canadian P&C industry, when in fact he was arguing the opposite (that…
A tribal council that represents five First Nations in northwestern Ontario says the first batch of local emergency medical responders from a new training program has graduated and will serve Pikangikum First Nation. The Independent First Nations Alliance says it…
Canada’s upcoming national flood insurance program will likely take characteristics from flood models in both France and Britain, Insurance Brokers Association of Canada (IBAC) CEO Peter Braid told Canadian Underwriter in an interview. In its 2023 budget, the federal government…
Canada’s federal government finally put numbers to a low-cost flood insurance program, committing $31.7 million over three years to protect households at high risk of flooding and without access to adequate insurance. Details about the program remain up for discussion,…
Newfoundland and Labrador’s provincial government has announced it will permanently remove the 15% retail sales tax (RST) on personal property insurance, a move Insurance Bureau of Canada (IBC) says aligns with its “recommended approach after months of advocacy.” The issue…
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…
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…
If Canada’s property and casualty insurance industry wants Canadian homeowners to “build back better” after a natural catastrophe, it may have to revisit its foundational promise to restore a homeowner’s property to the condition it was in before the disaster.…
When it comes to Canadian homes being resilient against severe water damage wrought by climate change, a significant portion of them aren’t insurable for flooding, says Aviva Canada CEO Jason Storah. Storah was speaking to Canadian Underwriter about the company’s…
Aviva Canada’s year-end 2022 P&C results have vaulted the company into second place in the Canadian market, the company’s CEO announced Thursday. “Aviva Canada delivered strong results for fiscal year 2022, achieving a combined operating ratio of 92.5% (90.7% in…
Aon plc has launched a new earthquake model for Canada, one that takes into account the well-known risk in western provinces but also the lesser-known risk in eastern Canada. The model is based on the latest scientific research from Natural…
TORONTO – A fierce winter storm has dumped heavy snow across southern Ontario, where strong winds, thunder and lightning were also reported. Environment Canada meteorologist Haizhen Sun says between 22 and 30 centimetres of snow fell on the Greater Toronto…