Canadian Underwriter

Topic Property

News AlbertaB.C.Property

Western Canadian air tanker fleet busy despite drop in wildfires

October 19, 2020 by Bill Graveland - THE CANADIAN PRESS

RED DEER, Alta. – A family-run company providing air-tanker support to control menacing wildfires in British Columbia, Alberta, Manitoba and Yukon is a little less busy these days, but it has nothing to do with the COVID-19 pandemic. “It has

News ClaimsClaims Canada ArchiveEmerging RisksInsurersLoss ControlLoss TrendsProperty

Watch for governments to transfer financial risk from natural disasters to insurers: Swiss Re

October 16, 2020 by Greg Meckbach

There is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes. In Asia, Africa, the United States and Britain, there are examples of national and sub-national

News ClaimsClaims Canada ArchiveClaims ProfessionalsCyberEmerging RisksLegalLoss ControlLoss TrendsPropertyQuebecRisk ManagersTechnology

Why this client can only recover $50,000 on a $2.7-million commercial crime claim

October 16, 2020 by Greg Meckbach

An electronics distributor that lost nearly $2.7-million because its accounts payable staff were duped by fraudsters cannot claim under policy wording covering funds transfer fraud, a Quebec court has ruled. In Future Electronics Inc. (Distribution) Pte Ltd. v. Chubb Insurance

News CatastrophesClaims Canada ArchiveInsurersProperty

Cat bonds starting to attract this type of investor

October 15, 2020 by Greg Meckbach

Catastrophe bonds are gaining a reputation as a socially responsible investment, a CatIQ Connect speaker said Wednesday. “Investors seeking investments in the [environmental, social and governance] market are starting to classify cat bonds as a responsible investment,” said Alyson Slater,

News CatastrophesInsurersPropertyTrending

IBC’s solution to ‘finger-pointing’ on who should fund climate resiliency

October 14, 2020 by Greg Meckbach

With weather catastrophes costing the industry billions, insurers are calling for a “whole of society” approach to mitigating climate risk. “Some of our insurer members have been on the vanguard of talking about climate change for many many years now.

News EnvironmentalLoss ControlOperationsPropertyTrending

The tough question for insurers withdrawing coverage from coal

October 14, 2020 by Greg Meckbach

The industry’s concern over carbon emissions, and their impact on climate change, raises the question of whether nuclear energy is better for the environment. “One the one hand, nuclear [energy] is a source of carbon-free power generation. On the other

News ClaimsNewfoundland & LabradorProperty

House fire in small Newfoundland town spreads to other buildings

October 7, 2020 by The Canadian Press

HEATHERTON, N.L. – A number of buildings are on fire in the small town of Heatherton, N.L. Muriel Brown works at the local Home Hardware store and says all she sees is smoke and flames when she steps out of

News AdjustersCatastrophesClaimsClaims Canada ArchiveLoss ControlLoss TrendsPersonal HomeProperty

Intact’s plan to help you advise your client on disaster resilience

October 2, 2020 by Greg Meckbach

By the end of this year, Intact Financial Corp. is hoping that a research centre it funds will have trained more than 140,000 brokers, home inspectors, realtors, and other professionals on how to make properties resilient to extreme weather, CEO

News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsPersonal HomeProperty

‘Much clearer picture’ of how Ottawa will address flood risk coming soon

September 29, 2020 by Greg Meckbach

A special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,

News ClaimsNova ScotiaProperty

Post-tropical storm Teddy makes landfall in Nova Scotia bringing high winds, rain

September 23, 2020 by Michael MacDonald - THE CANADIAN PRESS

HALIFAX – The centre of post-tropical storm Teddy made landfall in eastern Nova Scotia on Wednesday morning and then trudged across southern Cape Breton, its 100-kilometre-per-hour winds causing power outages – but not much damage. Bob Robichaud, a meteorologist at

News BrokersCommercialManagementMergers and AqcuisitionsOperationsProperty

Intact’s rationale for buying this bond and marine brokerage

September 16, 2020 by Greg Meckbach

Intact Financial Corp.’s latest “tuck-in” brokerage acquisition is part of its ongoing expansion effort in the United States, chief financial officer Louis Marcotte suggested Tuesday. International Bond & Marine Brokerage Ltd. of Hoboken, N.J., announced Sept. 11 it is now

News B.C.ClaimsProperty

B.C. amends law in effort to address high condo and townhouse insurance premiums

September 16, 2020 by The Canadian Press

VICTORIA – The B.C. government has announced regulatory changes aimed at bringing more transparency to condo insurance premiums that have risen by as much as 40 per cent. The Finance Ministry says effective Nov. 1, insurers or insurance agents will