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Firefighter trying to put out a house on fire
News B.C.Personal Home

Province, StatsCan partner on fire prevention pilot

June 9, 2022 by The Canadian Press

VICTORIA – Firefighters in British Columbia will soon have access to information to help identify neighbourhoods where the risk of home fires is greatest in an effort to prevent more needless deaths, says the province’s fire commissioner. The commissioner’s office

Group of business people assembling a jigsaw puzzle
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Canadian P&C brokerage space sees four M&A deals in June

June 8, 2022 by Jason Contant

Merger and acquisition activity in the Canadian P&C insurance industry is showing no sign of slowing down in the second half of 2022, with the announcement of four transactions by three brokerages already since the beginning of June. McDougall Insurance

House being lifted away by balloon.
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Remember 1970s stagflation? Why insurers should pay attention to the World Bank

June 7, 2022 by Philip Porado

Lingering impacts of COVID-19 and Russia’s invasion of Ukraine have magnified a global economic slowdown and raised the risk of stagflation – in which long-term, feeble growth combines with high inflation – the World Bank says in its latest prospects

Skeena River at Terrace, BC
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Flood watches remain in parts of B.C.

June 7, 2022 by The Canadian Press

VANCOUVER – Emergency officials say as many as 20 buildings are flooded in three northwestern British Columbia communities. But a break in the weather has slowed rising waterways across the region. The Regional District of Kitimat-Stikine ordered the evacuation of

Skeena River in northern British Columbia
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Evacuations, local state of emergency in northwest B.C. as flood risk rises

June 6, 2022 by The Canadian Press

VANCOUVER – Evacuation orders have been issued for three small communities in northwestern British Columbia as the flood risk rises across the region. Residents of the Terrace-area communities of Old Remo, New Remo and Usk were ordered out of their

Aerial view of a residential district in Ontario
News CatastrophesClaimsPersonal Home

Canada’s most exposed insurance lines

May 31, 2022 by Jason Contant

Exposure related to insuring personal lines of business in general continues to see steady growth in the Canadian P&C insurance industry, with a whopping $9.3 trillion of personal property assets in Canada now insured against fire, according to Catastrophe Indices

Tree and property damage from natural disaster
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Where the derecho falls among Canadian Cat events

May 30, 2022 by David Gambrill

Canada’s rare and deadly derecho last week seems likely to rank among the country’s Top 10 costliest insured catastrophes, Aon plc predicts. “In Canada, a rare derecho impacted densely populated metropolitan areas in Ontario and Quebec on May 21 that

Tree damage following derecho
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Emergency alerts when severe weather happens can be improved: Environment Minister

May 26, 2022 by Mia Rabson - THE CANADIAN PRESS

OTTAWA – Emergency weather alerts that are broadcast over the mobile network should be improved to make sure they are getting to the right people at the right time, Environment Minister Steven Guilbeault said Wednesday. Guilbeault is in Germany for

Delta flooding after hurricane.
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How to speed up claims response for NatCats

May 25, 2022 by Yasser Korany, Mario Delorme and Mazen Habash

Extreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme

Storm cloudscape over grass field
News CatastrophesClaimsClaims ProfessionalsEnvironmentalOntarioPersonal HomePropertyQuebec

First Cat of the year predicted after powerful “derecho” storm

May 24, 2022 by Alyssa DiSabatino

A series of powerful thunderstorms that affected Ontario and parts of Quebec this weekend is already being billed by the industry as the first major Cat of 2022. And while industry experts anticipate a large number of insured damages, one

Manitoba flooding forces evacuation of hundreds
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Manitoba premier tours flooded cottage country as waters continue to rise

May 24, 2022 by The Canadian Press

WINNIPEG – Manitoba Premier Heather Stefanson has taken a helicopter tour of a flooded region in the eastern part of the province. Stefanson says the amount of water is overwhelming in Whiteshell Provincial Park, the latest area to be hit

Map of Canada
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5 key trends in the Canadian P&C market, according to Aon

May 18, 2022 by Canadian Underwriter Staff

P&C insurers are actively managing how they deploy their global capacity for cyber insurance, and the underwriting process for that sector continues to gain rigor, said Aon’s quarterly global markets insights report. Although the frequency of cyber claims remained relatively