Topic Yukon
Feds’ task force reveals preferred flood insurance models
August 30, 2022 by Alyssa DiSabatinoA federal government task force on flood insurance is leaning toward the public insurer and layered public insurer models of flood insurance programs for Canada. The public insurer model features a Crown corporation that underwrites comprehensive flood insurance through the…
Will this week’s weather events result in Cat damages?
July 25, 2022 by Alyssa DiSabatinoWhile Europe is experiencing record-breaking heat waves, western Canada had some severe heat and storms of its own between July 16-20. And although they were expected to have caused millions in damage, it won’t breach catastrophe territory, according to Aon’s…
Wildfire smoke, heat warnings up for many parts of Canada’s North
July 14, 2022 by The Canadian PressWHITEHORSE – Several parts of Northern Canada are enveloped in smoke from wildfires along with unusually high seasonal temperatures. Yukon has seen a huge leap in the number of blazes with just over 846 square kilometres of land scorched this…
Lightning starts 136 wildfires over seven days in Yukon: fire information officer
July 8, 2022 by The Canadian PressWHITEHORSE – A Yukon information officer says firefighters in the territory have been bolstered by crews and resources from British Columbia to help fight a growing number of wildfires. Mike Fancie says in a news release Wednesday that about 60…
Canada’s most-exposed flood regions
June 10, 2022 by Alyssa DiSabatinoQuebec has the highest historical average annual loss (AAL) for flood faced by any region across the country, at $861.3 million, but Yukon’s average annual loss per residential address (RA) stands at $925, well above Quebec’s $229 loss per residence.…
How to speed up claims response for NatCats
May 25, 2022 by Yasser Korany, Mario Delorme and Mazen HabashExtreme 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…
Beware the tax implications of unlicensed insurance
May 3, 2022 by Jason ContantIf you’re looking to place a risk through an insurer that’s not licensed to write business in Canada, it’s important to understand the requirements around filing federal and provincial taxes, as well as special broker licenses. Although direct placement with…
A car crashes in Ontario: Why Canadian auto insurers pay attention
April 13, 2022 by Daniel StrigbergerPeople love to visit Ontario. Unfortunately, some of them get into car accidents. Why should a visitor’s auto insurer care about accidents in Ontario? Because when a non-resident is involved in an auto accident in the province, their insurers will…
Former Aviva Canada VP now CEO of TD Insurance
July 7, 2021 by Greg MeckbachJames Russell, a former senior executive with The Dominion of Canada General Insurance Company and Aviva Canada, is now leading The Toronto-Dominion Bank’s property and casualty insurers. Russell’s appointment results from a re-assignment of several TD senior managers. Russell has…
100-year flood level on Yukon River prompts warning to village of Carmacks
June 23, 2021 by The Canadian PressWHITEHORSE – The water level on the Yukon River at the village of Carmacks keeps rising, prompting a flood warning from the territory. A statement from the territory says the river is at a level only seen once every 100…
Briefing Note: Territories
July 13, 2020 by Canadian Underwriter StaffNunavut and the Northwest Territories are feeling the effects of insurers pulling out of both areas. “We had Aviva Elite, who wrote probably all of the mobile homes in the Northwest Territories, discontinue writing [that line],” says Mark Harris, the…
Brokerage expands into Yukon with acquisition
January 14, 2020 by Jason ContantWestern Canadian independent insurance brokerage CapriCMW Insurance Services Ltd. announced Monday it has expanded into Yukon with the acquisition of an office from Aon Reed Stenhouse Inc. The longstanding Aon office at 201-9016 Quartz Road in Whitehorse will begin operating…