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Farm in rural Ontario
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Will building code changes affect farm fire severity?

November 2, 2023 by Jason Contant

With changes from the National Building Code of Canada (NBC) in the process of becoming law in Ontario next spring, farm insurance experts are raising concerns that the maximum barn size restriction will be removed and Ontario’s Fire Code (OFC)

Flood damage in Merritt, B.C.
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Governments announce $228 million agriculture recovery fund after B.C. floods

February 8, 2022 The Canadian Press

VICTORIA – Agricultural producers affected by devastating flooding in British Columbia last November can apply for recovery funds through a $228-million package announced Monday by the provincial and federal governments. The total losses for the agricultural sector from flooding that

News Insurance

Grasshopper infestation affecting Prairie agriculture sector

August 11, 2021 Brittany Hobson - THE CANADIAN PRESS

A pattern of dry, hot weather across the Prairies over the past few years has resulted in a grasshopper infestation of epic proportions, with some experts saying the nuisance is negatively affecting every part of the agriculture industry. For several

News CatastrophesInsuranceMergers and Aqcuisitions

B.C.’s wildfire season surpasses 1958 record for amount of land burned

August 17, 2017 The Canadian Press (CPSTF)

KAMLOOPS, B.C. – British Columbia’s wildfires have destroyed a record amount of forest, brush and grassland, surpassing the devastation of nearly 60 years ago. Kevin Skrepnek with the BC Wildfire Service said about 8,944 square kilometres have been scorched by

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

B.C. and federal governments assessing impact of wildfires on province’s agriculture sector

August 16, 2017 by Canadian Underwriter

The governments of British Columbia and Canada have announced that they are working under the federal-provincial AgriRecovery disaster framework to determine the type of assistance that may be required by the province’s agriculture sector to recover from the impact of wildfires. The announcement was made on Wednesday following the first meeting between Lawrence MacAulay, the federal Minister of Agriculture and Agri-Food, and B.C. Minister of Agriculture Lana Popham.

Government officials are working together to quickly assess the “extraordinary costs” farmers are incurring and what additional assistance may be required to recover and return to production following the wildfires, noted a joint statement from B.C.’s Ministry of Agriculture and Agriculture and Agri-Food Canada.

News CatastrophesInsuranceLegislation / RegulationMergers and Aqcuisitions

Modern-day Hurricane Andrew would cost an estimated US$80-100 billion in economic damage compared to 1992’s US$26.5 billion: Swiss Re

August 9, 2017 by Canadian Underwriter

A modern-day Hurricane Andrew would cost an estimated US$80-100 billion in economic damage, up dramatically from the US$26.5 billion cost in 1992 dollars, according to a new report from Swiss Re. The hurricane in August 1992 destroyed more than 25,000

News InsuranceMergers and AqcuisitionsProfessional Development

Hub International purchases “certain assets” of Quebec surety broker

August 8, 2017 by Canadian Underwriter

Chicago, Ill.-based Hub International Limited announced on Monday that Hub Quebec has purchased “certain assets” from Patrice Varin, through a corporation held by him. Terms of the acquisition were not disclosed. Varin will join Hub Quebec, bringing with him a

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Absence of large losses contributes to 20.6-point drop in Q2 combined ratio for PartnerRe

August 1, 2017 by Canadian Underwriter

PartnerRe Ltd. reported a combined ratio of 87.7% during the three months ending June 30, a 20.6-point improvement over 108.3% during the same period in 2016, when Canada experienced its most expensive natural disaster ever and a loss from an

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Platform provider revenues for sharing economy forecast to double in 2022: Juniper Research

July 24, 2017 by Canadian Underwriter

The move by established sectors to press their first-mover advantage looks poised to push growth in the sharing economy much higher over the next five years, reaching US$40.2 billion in 2022, notes a new research report released Monday by U.K.-based

News InsuranceMergers and AqcuisitionsTechnology

More drone activity anticipated, safety-first approach essential: SCOR newsletter

June 9, 2017 by Canadian Underwriter

An agile and flexible response by all parties is needed in light of the new and little-understood risks expected to emerge with the anticipated increase in drone activity over the next few years, SCOR experts write in a recent technical

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Personal, commercial drone market revenue expected to increase 34% to reach US$6 billion+ in 2017: Gartner

February 13, 2017 by Canadian Underwriter

Production of drones for personal and commercial use is growing rapidly, with global market revenue expected to increase 34% to reach more than US$6 billion in 2017 and more than US$11.2 billion by 2020, according to a new forecast from

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Chubb Limited’s net income for 2016 Q2 down 22.8% from 2015 Q2

July 28, 2016 by Canadian Underwriter

Higher natural catastrophe losses globally were among the factors contributing to Chubb Limited reporting US$726 million in net income for the three months ended June 30, 2016 compared to US$942 million for the prior-year quarter. Chubb’s net income was also