Canadian Underwriter

Keyword
catastrophe

News Insurance

Facing a perfect storm of events, insurers brace for a ‘turbulent future’

July 21, 2020 by Adam Malik

With natural catastrophes starting to hit, the economy in rough shape, and the courts poised to weigh in on potential business interruption exposures, insurance companies are buckling in for a rough ride ahead, a recent report warns. Natural catastrophe (NatCat)

Feature Catastrophes

The biggest one

May 5, 2020 David Gambrill, Editor in Chief

How the industry will survive a global pandemic

News AdjustersCatastrophesClaimsClaims CanadaInsurance

The impact of COVID-19 on independent adjusters

March 18, 2020 by Greg Meckbach

As most Canadians are being asked to leave home only when necessary, how will the property and casualty industry deal with a large catastrophe, such as a major wind storm, while still taking precautions to reduce the risk of COVID-19

News CatastrophesClaimsClaims CanadaInsurance

Canada’s biggest insurance losses in 2019

January 22, 2020 by Greg Meckbach

Insured damage from floods, rain, snow and windstorms reached $1.3 billion in 2019, the Insurance Bureau of Canada (IBC) reported Tuesday, citing data from Catastrophe Indices and Quantification Inc. (CatIQ) “Like 2018, no single event in 2019 caused the high

News CatastrophesInsuranceMarkets / Coverages

Should the industry have a specific line of business for ‘catastrophe’?

January 16, 2020 by Jason Contant

Is it time the insurance industry starts zeroing in on a single definition of catastrophe? Traditionally, the industry would offer a named perils policy outlining specific catastrophe coverages or an all-risks policy, which covered risks unless they were specifically excluded.

News ClaimsClaims Canada

How catastrophes affected Intact’s Q4 numbers

January 9, 2020 by Greg Meckbach

Intact Financial Corp. is pegging its catastrophe claims at $115 million for the fourth quarter of 2019 alone, more than double the figure for the same period in 2018. Intact released its $115 million estimated catastrophe loss Tuesday. The company

Feature CatastrophesClaimsClaims Canada

Mind the Gap

November 2, 2019 Jason Contant, Online Editor

The gap between those who are insured against catastrophes and those who aren’t is still noticeably wide, particularly as storms are supposed to get worse. Monica Ningen, president and CEO of Swiss Re Canada and English Caribbean, describes  what can be done.

News CatastrophesClaimsInsurance

Have insured cat losses already reached $1 billion this year?

September 13, 2019 by Jason Contant

The “alarming trend” towards increasingly severe and frequent weather events causing higher insurance payouts continues in 2019, with close to $900 million in insured losses recorded already so far this year. In 2018, insured damage from severe weather across Canada

News CatastrophesClaimsInsurance

Two winter storms, one $70-million claims bill for insurers

April 9, 2019 by David Gambrill

The busy catastrophe season in Canada thus far is continuing with no signs of slowing down. Two severe weather storms in Ontario this year, one in February and one in March, cost insurers more than $70 million in insured damage,

News CatastrophesClaimsInsurance

What the industry learned from the costliest catastrophe of 2018

February 7, 2019 by Jason Contant

The sheer volume of claims following the windstorm that swept through southern Ontario and Quebec last May led to critical service disruptions, after so many consumers called at once to report their claims to their insurers. “I’m not sure people

News Catastrophes

Two weird things about the 2018 catastrophe season

February 7, 2019 by Jason Contant

The Canadian insurance industry saw a bit of an unusual catastrophe season last year, with more cats in the second quarter than the third, and Ontario beating out Alberta for insured losses. There were a total of 12 catastrophes last

News CatastrophesClimate ChangeInsuranceRisk

What Canada’s P&C industry has learned from catastrophes

July 31, 2018 by David Gambrill

Each catastrophe presents a unique learning opportunity for today’s risk and insurance professional; over time, savvy risk experts will use these broad-scale “teachable moments” to better prepare their clients and employers to be more resilient in the future. Canadian Underwriter