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Alberta
Allstate Canada expands UBI program Drivewise into Nova Scotia after “great success” in Alberta and Ontario
August 15, 2017 by Canadian UnderwriterThe Allstate Insurance Company of Canada announced on Monday that it is expanding its usage-based insurance (UBI) program Drivewise in Nova Scotia “after experiencing great success in the provinces of Alberta and Ontario.” Drivewise rewards those who exhibit safe driving…
Alberta government addressing flood resilience in Calgary
August 14, 2017 by Canadian UnderwriterThe province of Alberta reported on Friday that it has begun implementing advice from a report that identifies ways to improve flood resilience in Calgary and better water management throughout the Bow River basin. The Advice to Government on Water…
Most Canadians believe they are good drivers, but admit to at least one bad driving habit: belairdirect survey
August 14, 2017 by Canadian UnderwriterA majority of Canadians (95%) believe they are good drivers, but almost the same amount (93%) have admitted to engaging in at least one bad habit behind the wheel, according to a new belairdirect survey by Leger Research. The online…
2016 was the warmest year on record for the globe, Canadian Prairies experienced one of the “longest and most active storm seasons”: report
August 11, 2017 by Canadian UnderwriterLast year topped 2015 as the warmest year in 137 years of record keeping and marked the third consecutive year of record warmth, the National Oceanic and Atmospheric Administration (NOAA) reported on Thursday. The 27th annual State of the Climate…
Five Canadian cats in first half of 2017 led to $438 million in insured losses: Property Claim Services
August 9, 2017 Jason Contant, Online EditorFive catastrophe events in Canada led to $438 million in insured losses in the first half of this year, according to the PCS H1 2017 Catastrophe Review, released on Wednesday. “Unsurprisingly, insured losses from PCS-designated events in Canada fell dramatically…
Asia records US$11 billion economic loss from heavy flooding in July, western Canada affected by wildfires, severe weather: Aon
August 8, 2017 by Canadian UnderwriterRelentless seasonal flooding that began in mid-June resulted in continued fatalities and damage across parts of Asia in July, causing an estimated US$11 billion in economic losses, according to Impact Forecasting’s latest Global Catastrophe Recap report. On Tuesday, Impact Forecasting,…
Fire Stopper
August 3, 2017 Greg Meckbach, Associate EditorThe Alberta government reports it is currently implementing most of the 31 recommendations contained in two commissioned reports exploring what worked and what did not in the wake of the massive Fort McMurray wildfire. And while Canada’s most costly natural disaster ever will not necessarily change how reinsurers here conduct business, there are rumblings of its potential impact on pricing.
17% of secondary rental suites in Ontario, Alberta and B.C. considered illegal: Square One Insurance survey
August 3, 2017 by Canadian UnderwriterSeventeen per cent of rental suites in detached houses in Ontario, Alberta and British Columbia are considered illegal, a new survey from Vancouver-based Square One Insurance Services Inc. has found. The study involved a survey of more than 5,500 homeowners…
Insurance Corporation of B.C. financial condition ‘seriously compromised,’ Basic Autoplan needs redesign: EY
July 25, 2017 by Canadian UnderwriterThe premiums charged by British Columbia’s government-run monopoly provider of basic auto insurance are “not high enough” to cover claims, the system is not sustainable and the cost of the average minor bodily injury claim has risen well beyond the…
Judicial determination on interpretation of property Cat XOL with reinsurers sought
July 18, 2017 by Angela StelmakowichAlberta Motor Association Insurance Company is looking to divide the loss arising out of the Fort McMurray wildfire, which exceeded a duration of 168 hours, into six multiple loss occurrences in line with its reading of its property catastrophe excess…
Estimated insured damage for June storm in central Alberta upwards of $30 million
July 17, 2017 by Canadian UnderwriterA severe storm that swept through central Alberta in the third week of June is estimated to have caused more than $30 million in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc.…
State of emergency continues as wildfires affect interior B.C.
July 13, 2017 by Canadian UnderwriterMining and wood products are among the industries affected by wildfires in British Columbia’s interior, where a state of emergency is in place. Imperial Metals Corp. announced Wednesday that an open pit copper/gold mine 56 kilometres northeast of Williams Lake…