Canadian Underwriter

Topic Property

Drilling rig in Alberta
News AlbertaEmerging RisksEnvironmentalProperty

Regulator defends finding that Alberta’s largest earthquake was caused by oilpatch

March 30, 2023 by Bob Weber - THE CANADIAN PRESS

EDMONTON – Alberta’s energy regulator has defended its finding that the province’s largest recorded earthquake was caused by oilpatch activity, saying the pattern of temblors since last fall clearly points to a water disposal well even though there’s no suggestion

Bad extreme heavy rain storm weather. Flooded streets of the neighborhood. A flooded road junction with a drowned car. Heavy rains from tropical storm caused many flooded areas.
News BrokersCatastrophesClaimsCommercialEmerging RisksInsurersPersonal HomeProperty

Feds commit money for new national flood insurance program

March 29, 2023 by David Gambrill

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,

A fire in Old Montreal that gutted a heritage building.
News ClaimsClaims Canada ArchiveEmerging RisksInsurersLiabilityPropertyQuebec

Questions raised about safety of Old Montreal building destroyed by fatal fire

March 27, 2023 by Morgan Lowrie - THE CANADIAN PRESS

MONTREAL – More than a week after a fatal fire tore through a building in Old Montreal, accounts from former tenants and victims of the blaze are raising questions about the safety of the heritage property. Five bodies had been

Inflation is getting away from us
News ClaimsInsurersLoss TrendsPersonal AutoProperty

How insurers can respond to interest rate hikes and market volatility

March 24, 2023 by Philip Porado

How might high inflation, rising interest rates, and current volatility in stock and bond markets impact future P&C insurance pricing? It’s too early to tell. For insurers, the current environment requires consistent monitoring of profitability and portfolio performance, said Fiona

Tailings samples at an Imperial Oil research centre.
News AlbertaClaimsCommercialEmerging RisksEnvironmentalLiabilityProperty

Ottawa requests joint ‘working group’ on oilsands contamination with Alberta

March 20, 2023 by Bob Weber - THE CANADIAN PRESS

Federal Environment Minister Steven Guilbeault has further spelled out what he wants to see in a new body that would oversee monitoring and communications around pollution problems in the oilsands. In a letter dated March 16 to his Alberta counterpart

Small business owners working at their company.
News BrokersCommercialCommercial AutoPropertyTechnology

Direct bringing competition to small-business space

March 15, 2023 by Philip Porado

Direct writer TD Insurance has launched TD Insurance for Business, which will offer commercial property, commercial auto for business vehicles and commercial general liability coverage to Canadian small businesses. Coverage will initially be available in Ontario, followed by other provinces, according

Ice melting and combining with rum.
News ClaimsCommercialInsurersLegalPropertyQuebec

Two companies, one shareholder, only one named insured. What happens next?

March 14, 2023 by David Gambrill

A man who is the sole shareholder of two companies — one that owns a title deed to a building (and the only named insured on the policy), and one a commercial tenant of that same building — has an

Water Rescue crew on site searching for survivors after dangerous NatCat Flooding Aerial drone views high above Flooding caused by Climate Change leaving entire neighborhood underwater and houses completely under water , boat with water rescue searching for people stuck in their flooded homes
News ClaimsCommercialEmerging RisksInsurersLoss TrendsPersonal AutoPersonal HomeProperty

Six to 10% of Canadian homes aren’t insurable for flooding, industry stats show

March 10, 2023 by David Gambrill

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

A closeup of a seismograph machine needle drawing a red line on graph paper depicting seismic and earthquake activity - 3D render
News B.C.CommercialEmerging RisksEnvironmentalInsurersOntarioPersonal HomePropertyQuebec

New earthquake model considers eastern Canada risk

March 9, 2023 by Jason Contant

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

Corporate boardroom in chaos
News BrokersCommercialInsurersProperty

What might cause the softening D&O market to stall?

March 8, 2023 by Philip Porado

Hard markets may come and go, but they seemed to stick around longer for Directors and Officers (D&O) coverage than for some other P&C industry segments. As of last fall, though, D&O availability and affordability have been improving. After several

Oilsands refineries near Athabasca River
News AlbertaClaimsCommercialEnvironmentalNWTProperty

N.W.T. says lack of notice on oilsands tailings spill goes against deal with Alberta

March 7, 2023 by Bob Weber - THE CANADIAN PRESS

Alberta didn’t live up to the terms of a deal it has with the Northwest Territories to inform it about threats to its shared watershed after two major oilsands tailings spills, the territory’s environment minister said Friday. Shane Thompson said

Winter storm brings heavy snow, strong winds and thunder and lightning to southern Ontario
News ClaimsClaims Canada ArchiveCommercialEnvironmentalOntarioPersonal AutoPersonal HomeProperty

Major winter storm brings snow, thunder and lightning to parts of Ontario

March 6, 2023 by The Canadian Press

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