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Catastrophes

News Insurance

COVID-19 compounds ongoing real estate insurance challenges

September 8, 2020 by Adam Malik

The global pandemic isn’t necessarily causing a large number of problems around insurance issues in the real estate sector, but it’s clogging up the pathway to making things better. “The way we’re thinking about real estate and insurance is that,

News AdjustersCatastrophesClaimsClimate ChangeEngineeringInsuranceRestoration

Property claim cycle times are on the rise: Xactware data

August 10, 2020 by David Gambrill

While everyone in the Canadian property and casualty insurance industry knows that quick claims response times are critical to consumer satisfaction, cycle times for property claims in Canada increased overall between 2018 and 2019, according to the latest property damage

News ClaimsEarnings / RatingsInsurance

COVID’s impact on Aviva’s first-half results

August 6, 2020 by David Gambrill

Aviva Canada overcame high claims costs related to pandemic losses and severe-weather catastrophe events in Alberta to trim its combined operating ratio (COR) down from 98.1% in the first half of 2019 to 95.5% during the first half of this

News AdjustersAssociationsCatastrophesClaimsClimate ChangeInsurance

COVID-19 sparks debate about U.S. adjuster use in Calgary

July 3, 2020 by David Gambrill

COVID-19 appears to be kindling proud sentiments about employing Canadian adjusters, after social media posts triggered an age-old debate about using U.S. adjusters to handle catastrophe claims in Canada. Twitter was abuzz with comments after Global News posted a piece

News CatastrophesInsurance

Opinion: COVID is nasty and impactful, but it’s not a Black Swan

May 19, 2020 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss Reduction

Since the “black swan” metaphor was coined in the 2007 book of the same name, it has become fashionable to label virtually all low probability/high impact events black swans. But the danger of making an occurrence like the COVID-19 outbreak

Feature CatastrophesClaims CanadaClimate Change

Bright skies ahead

January 1, 2020 Adam Malik, Managing Editor

Catastrophes have hit Canadian P&C adjusters  hard, causing many to wonder if the industry has  the capacity to handle increasing workloads. Why adjusters see sunnier times ahead

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3

November 6, 2017 by Canadian Underwriter

The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsuranceReinsurance

Cats a significant driver in Everest Re Group’s posting US$639.4 million net loss in 2017 Q3

October 31, 2017 by Canadian Underwriter

Losses from hurricanes Harvey, Irma, Maria (HIM) and the Mexico City earthquake contributed to Everest Re Group, Ltd. posting a US$639.4 million net loss for 2017 Q3 compared to net income of US$295.4 million for the prior-year quarter. For the

News CatastrophesClaimsClimate ChangeInsurance

Hurricanes look to be increasing, drivers of higher related losses less prominent in Canada than in U.S.: AGCS

October 30, 2017 by Angela Stelmakowich

Lower population increase and development in coastal areas of Canada compared to the United States will likely help ensure losses are less likely to increase, suggests Andrew Higgins, technical manager – Americas for Allianz Risk Consulting, LLC. “Certainly, sea level

News CatastrophesClaimsClimate ChangeInsurance

Hurricane recent events, history illustrate need to beef up preparedness: AGCS

October 27, 2017 by Angela Stelmakowich

The preparedness of U.S. businesses is still wanting despite lessons learned from Hurricane Sandy and the high hurricane activity, devastation and losses so far this Atlantic hurricane season, suggests Allianz Global Corporate & Specialty (AGCS). “In light of lessons learned

News ClaimsInsuranceReinsuranceTechnology

Willis Re supports B3i blockchain insurance industry initiative

October 2, 2017 by Canadian Underwriter

Willis Re is supporting the B3i initiative – the global blockchain effort launched last fall – by becoming a member and taking part in its prototype market testing phase. The announcement follows the successful launch of a working market testing

News CatastrophesClaimsClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

SGI Canada customers evacuated by Saskatchewan wildfires have mass evacuation coverage

September 5, 2017 by Canadian Underwriter

SGI Canada policyholders in areas affected by the wildfires in northern Saskatchewan will have mass evacuation coverage in place for 30 days and should be assured that personal and commercial property policies will not be cancelled for 30 days in