Canadian Underwriter

Topic Property

A forest fire burns among a residential area
News AdjustersCatastrophesClaimsClaims ProfessionalsEmerging RisksInsurersPersonal HomeProperty

Wildfires: Where there’s smoke, there’s damage

July 18, 2023 by David Gambrill

As smoke from almost 900 of Canada’s wildfires descends upon the United States, resurrecting media reports about air quality, Canadian property and casualty insurers have an eye on a different type of exposure — property damage claims due to wildfire

Tornado warning issued for Montreal
News CatastrophesClaimsEnvironmentalInsurersOntarioPersonal AutoPersonal HomeProperty

Montreal-Barrhaven storm declared a Cat

July 18, 2023 by Alyssa DiSabatino

The storm that hit Montreal on Thursday, downing trees and power lines and causing localized flooding, has been declared a catastrophe, Laura Twidle, president and CEO of Catastrophe Indices & Quantification Inc. (CatIQ) told Canadian Underwriter.  A ‘catastrophe’ is an

Restaurant manger and server consulting behind the bar
News BrokersBusiness InterruptionClaimsCommercialEmerging RisksHRInsurersLegalLiabilityLoss TrendsProperty

Has COVID-19 changed restaurant insurance forever?

July 13, 2023 by Jason Contant

Canada’s hospitality sector was particularly hard-hit by the COVID-19 pandemic, with government-mandated shutdowns and restrictions grinding the industry to a halt. Now, as restaurants return to pre-pandemic foot traffic and revenue levels, the need for insurance solutions and capacity is

Carpenter at work on a kitchen repair
News AdjustersClaimsInsurersLoss ControlPersonal HomeProperty

High building materials and labour costs still slowing home repairs

July 12, 2023 by Philip Porado

While inflation’s pace has eased in Canada, it’s still expensive to put homeowners back into their properties after a fire, flood, wind or other event. That’s because lingering supply chain and labour-shortage issues are extending restoration timelines. And that’s increasing

3D render and image composing: Topographic Map of Canada. Including country borders, rivers and accurate longitude/latitude lines.
News AlbertaB.C.BrokersCatastrophesClaimsCommercialEmerging RisksEnvironmentalInsurersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.Personal HomePropertySaskatchewanYukon

Brokers, insurers differ on the value of numerous flood products for home owners

July 4, 2023 by Alyssa DiSabatino

Canada’s property and casualty insurance brokers have long maintained the need for a unified flood map, but insurers want to compete on their proprietary flood maps, and the ongoing differences between brokers and their insurance partners on this point became

Fighting a bad fire
News B.C.Business InterruptionClaimsClaims Canada ArchiveCommercialEnvironmentalProperty

Fierce blaze damages several businesses, forces evacuation in B.C. city

July 4, 2023 by The Canadian Press

VERNON, B.C. – A restaurant, boutique, salon and costume shop are among the businesses believed to have been destroyed in an early morning fire in downtown Vernon, B.C. Flames broke out in the commercial building at about 2:30 a.m., blanketing

Christchurch cathedral in New Zealand following the 2011 earthquake.
News ClaimsEmerging RisksInsurersLoss ControlLoss TrendsPersonal HomeProperty

What Canadian insurers can learn from a New Zealand earthquake

June 30, 2023 by Philip Porado

Private property and casualty (P&C) insurers can’t be the sole providers of coverage for peak peril because they cannot efficiently assume extreme tail risk. That’s a key takeaway for Canada’s P&C insurers from a catastrophic 2011 earthquake in Christchurch, New

Airbnb rental
News B.C.CommercialPersonal HomeProperty

What the court said about a condo owner using his unit for Airbnb 

June 29, 2023 by Jason Contant

British Columbia’s Civil Resolution Tribunal has ordered a strata corporation to direct one of its council members to stop using a unit for short-term accommodations (STAs) after finding the council member violated a strata bylaw.  The case centred around Bylaw

A picture of the SiniSTAR home-sharing technology
News AlbertaB.C.ClaimsClaims ProfessionalsClaims TechnologyInsurersPersonal HomePropertyQuebecTechnology

Home-sharing app specifically for insurance to go national

June 28, 2023 by David Gambrill

Tens of thousands of Canadians have been forced to evacuate because of an active wildfire season, and a new home-sharing digital platform dedicated to insurance is expanding nationally to help adjusters find temporary accommodations for insureds whose homes have been

Canada risk of earthquake
News B.C.ClaimsEmerging RisksInsurersOntarioPersonal AutoPersonal HomePropertyQuebec

Which peril might bankrupt the Canadian P&C industry?

June 28, 2023 by Canadian Underwriter Staff

Ottawa’s effort to build policy around flood risk in the face of climate change is important, but it overlooks a peril that could be far more catastrophic for Canadian P&C insurers, Alister Campbell, president and CEO of Property and Casualty

Map of Canada
News BrokersCommercialCommercial AutoManagementMergers and AqcuisitionsNew BrunswickNova ScotiaOperationsP.E.I.Personal AutoPersonal HomeProperty

Large Canadian brokerage now operating coast to coast

June 28, 2023 by Jason Contant

Editor’s Note: An original version of this article incorrectly identified Western Financial Group as Westland. Canadian Underwriter apologizes for the error.   Western Financial Group now operates coast to coast following its full acquisition of Huestis Insurance and Associates Ltd.

Economic and geopolitical risks have insurers walking a tightrope in 2023
News BrokersCatastrophesCommercialCommercial AutoConstructionEmerging RisksPersonal AutoPersonal HomePropertyTrusted Advisor

Despite easing inflation, P&C insurers face challenges

June 27, 2023 by Philip Porado

Canada’s May inflation rate slipped to an annualized 3.4%, Statistics Canada said Tuesday. That’s the lowest rate in two years and solidly below the 4.4% annual rate posted in April. It’s also in line with the Bank of Canada’s efforts