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Wildfire risk is elevated this year. Why the pandemic made it worse
August 7, 2020 by Adam MalikThe central and Pacific coast of British Columbia could see an increased risk of wildfires this year, a new report predicts. And COVID-19 restrictions could make the risk higher, Allianz Global Corporate & Specialty warned in its 2020 Wildfire Report,…
Provinces not moving fast enough to assess, mitigate flood risk: report
August 6, 2020 by Mia Rabson, The Canadian PressOTTAWA — A new report says provincial governments are not moving fast enough to protect homes and other buildings from the ravages of flooding. The report from the Intact Centre on Climate Adaptation at the University of Waterloo says on…
How high cat losses could go this year
August 4, 2020 by Adam MalikAlberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come…
The business line that drove Intact’s profitability in 2020 Q2
July 31, 2020 by Greg MeckbachIf you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in…
Who’s getting funding for new research in wildfire prediction, responses
July 31, 2020 by THE CANADIAN PRESSKAMLOOPS, B.C. – A university located in the heart of one of British Columbia’s most volatile forest fire regions will lead new research in wildfire prediction, prevention and response. Thompson Rivers University in Kamloops was chosen for the research that…
How B.C. adjusters are preparing for major earthquake
July 29, 2020 by Greg MeckbachWhen the next huge earthquake hits British Columbia, some independent adjusting firms may temporarily re-locate offices inland, perhaps even as far east as Alberta. Kernaghan Adjusters is aiming to be “up and running fairly quickly if we get into an…
Toronto mayor says masking bylaw possible if apartment buildings don’t comply
July 23, 2020 by Jake Kivanc - THE CANADIAN PRESSToronto Mayor John Tory said he’s prepared to extend the city’s mandatory masking order to shared spaces inside apartment and condominium buildings if management companies refuse to do it voluntarily. Current mandatory masking bylaws in cities such as Toronto apply…
How many claims the Calgary hail storm caused
July 16, 2020 by Greg MeckbachThe industry is dealing with more than 70,000 claims arising from last month’s hail storm in Alberta, but it’s not clear yet how much of the bill will get picked up by reinsurers, the Insurance Bureau of Canada reports. The…
What happened when this strata unit owner got sued over toilet supply leak
July 15, 2020 by Greg MeckbachA British Columbia strata owner is not liable for damage to the unit immediately below as a result of a burst toilet supply line, the province’s Civil Resolution Tribunal has ruled. The September 2018 plumbing mishap happened in a strata…
Why insurers cross their fingers after microburst storms in Toronto
July 15, 2020 by Adam MalikOld infrastructure and combined sewer systems mean that severe thunderstorms like the one seen last week will continue to leave basements flooded for years to come, leaving insurers and claims professionals busy, according to an industry expert. “When you get…
Who’s liable for what in this strata toilet failure
July 13, 2020 by Greg MeckbachA British Columbia strata unit owner who suffered water damage after a toilet tank ruptured is unable to recover the cost to replace the unit’s toilets from the strata corporation. In 2019, a Crane toilet storage tank failed in a…
Flash storm hits same areas of Toronto as in 2013 Cat event. Was the damage the same?
July 9, 2020 by Adam MalikToronto is drying out from another sudden thunderstorm, but claims professionals may have dodged an even bigger workload thanks to the storm quickly moving out. “We’ve seen worse,” Glenn McGillivray, managing director at the Institute for Catastrophic Loss Reduction (ICLR),…