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CatIQ
Early April storm in Ontario, Quebec causes $85 million in insured damage
April 30, 2018 by Jason ContantA windstorm in early April is estimated to have cost insurers more than $85 million, mostly from home insurance claims in Ontario, according to Catastrophe Indices and Quantification Inc. (CatIQ). The April 4-5 storm brought severe rain and freezing rain,…
Southwestern Ontario storm that flooded Brantford cost insurers $57 million
March 20, 2018 by Jason ContantA February storm that affected Brantford, Ont., as well as other areas of southwestern Ontario and Quebec, is estimated to have cost more than $57 million in insured damaged, Catastrophe Indices and Quantification Inc. (CatIQ) said Tuesday. Between Feb. 19…
Aon Benfield suggests Brantford flooding will cost “tens of millions”
March 9, 2018 by Jason ContantAon Benfield’s catastrophe model development team, Impact Forecasting, is estimating total economic and insured losses in the tens of millions (U.S. dollars) for the recent flooding in southern Ontario. Catastrophe Indices and Quantification Inc. (CatIQ) told Canadian Underwriter in late…
January winter storm largely battered one province
March 8, 2018 by Jason ContantA winter storm in central and eastern Canada at the beginning of the year caused more than $54 million in insured damage, with the majority of damage being in Quebec, Catastrophe Indices and Quantification Inc. (CatIQ) reported Thursday. Of the…
Insurers urged to play a role in rebuilding economies after disasters
February 9, 2018 by David GambrillInsurers should be giving more thought to planning how to rebuild economies in the aftermath of a crisis, a reinsurance executive urges. “To my mind, what is often seemingly forgotten is the piece of economic resilience,” says Alex Kaplan, head…
Insurers urged to share cat models to help map flood risk
February 1, 2018 by David GambrillCatastrophe models that Canadian insurers use to predict flood damage should be open-sourced, free and accessible to everyone, says the chief executive of an open source cat modelling platform. A common theme at the C4 conference in Ottawa, organized by…
Natural disaster recovery: Who owns the risk?
January 31, 2018 by David GambrillCanadians are not fully aware of their exposure to natural catastrophe risks, triggering a conversation at the C4 2018 conference in Ottawa about who is responsible for shouldering the heavy load of mounting disaster recovery costs. Organized by Catastrophe Indices…
Canada starting to build a “culture of climate resilience,” insurers say
January 24, 2018 by David GambrillCanada is starting to create a culture of climate resilience, particularly around overland flood risk, says the Insurance Bureau of Canada (IBC), an association of Canada’s home, auto and business insurers. “We’re encouraged and fairly optimistic that the wheels are…
Was Atlantic winter storm 2018’s first cat event?
January 16, 2018 by Jason ContantA winter storm that caused storm surges and extensive power outages in Atlantic Canada in early January may not have been a catastrophe event, but it was definitely significant, Catastrophe Indices and Quantification Inc. (CatIQ) told Canadian Underwriter Monday. CatIQ…
Why Canadian insurers paid $1.33 billion for cat claims in a benign cat year
January 9, 2018 by David GambrillCanadian insured losses from catastrophic events in 2017 totaled $1.33 billion, CatIQ Inc. reports, the fifth time that’s happened over the past seven years. “It’s becoming increasingly common to have Canadian annual insured losses to be greater than $1 billion,”…
B.C. wildfires cause more than $127 million in insured damage: CatIQ
September 27, 2017 by Canadian UnderwriterThe “two most significant wildfires in British Columbia this summer” caused more than $127 million in insured damage, the Insurance Bureau of Canada (IBC) said, quoting Catastrophe Indices and Quantification Inc. (CatIQ). The wildfires around Williams Lake caused close to…
Insured damages exceeds $124 million from Windsor August floods: CatIQ, IBC
September 25, 2017 by Canadian UnderwriterFloods in late August in Windsor, Ont. resulted in more than $124 million in losses to the industry, Insurance Bureau of Canada suggested Monday. “From August 28 – 29, a slow-moving area of low pressure produced significant rainfall over areas…