Canadian Underwriter

Keyword
earthquake

News Insurance

Canada’s P&C industry can’t shoulder the losses of the next earthquake by itself

April 7, 2021 by Adam Malik

Canada isn’t financially prepared to handle a major earthquake whenever it may come, says an industry observer. As a result, the property and casualty industry is at risk without a plan in place. Models are painting a grim picture of

News Insurance

How (and when) to turn a post-earthquake fire Cat into a kitten

March 3, 2021 by David Gambrill

Huge insurance bills for natural disasters such as fire following earthquake could be substantially reduced by paying for improvements that amount to a fraction of the damage estimates. But timing is everything when recommending how to “build back better,” says

News Insurance

How to increase the take-up of earthquake insurance

February 18, 2021 by Jason Contant

When broader government assistance is available for earthquake insurance, the take-up rates for private earthquake insurance appear to be suppressed, according to a new study on the difference between earthquake insurance rates in B.C.’s Lower Mainland and neighbouring Washington State

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How Ottawa is trying to lower earthquake related property losses

December 7, 2020 by Greg Meckbach

Natural Resources Canada is hoping to help insurers cut their loss costs with a yet-to-be released earthquake early warning system. The warning system could provide seconds to tens of seconds of warning before a location is affected by strong shaking,

News Insurance

Opinion: Preparing for future risk? Look to what’s happened in the past

August 20, 2020 Robert Muir-Wood, RMS

When evaluating unexpected catastrophe risks, our experiences can be sparse. Widening our knowledge by going back in time, by exploring the ‘near-misses’ and by expanding our geographic horizons is critical. Fortunately, big catastrophes are rare. This is good in that

News Adjusters

How B.C. adjusters are preparing for major earthquake

July 29, 2020 by Greg Meckbach

When the next huge earthquake hits British Columbia, some independent adjusting firms may temporarily re-locate offices inland, perhaps even as far east as Alberta. Kernaghan Adjusters is aiming to be “up and running fairly quickly if we get into an

News Claims

Adjuster reacts to B.C. earthquake

July 24, 2020 by Greg Meckbach

The earthquake earlier this week off the coast of Vancouver Island does not seem to have caused any insured property losses, but the industry is nonetheless encouraging all British Columbians to be prepared in any case for a large disaster.

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Afterburn

April 8, 2020 Greg Meckbach, Associate Editor

Home insurers in Quebec may be on the hook for major fire losses on their property policies in the aftermath of an earthquake

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What the regulator found when asking if fire following earthquake is covered in Quebec

February 5, 2020 by Greg Meckbach

Most Quebec homeowners are covered for fire following earthquake, according to a survey by the province’s regulator, which canvassed about 90% of insurers doing business in Quebec. The results of the Quebec Autorite des Marches Financiers (AMF) survey indicate that

News Insurance

Why eastern Canadian quakes may be stronger than you think

January 27, 2020 by Jason Contant

Major improvements in Canada’s proposed 2020 seismic hazard model means that there is an increased earthquake hazard all across Canada, including up 50% in some places. “The big change we’ve made in the 2020 model for eastern Canada has really

News Risk

Southwestern Quebec sees slight shaking from earthquake

January 13, 2020 The Canadian Press

OTTAWA – Southwestern Quebec got a slight shaking from a minor earthquake early this morning. Earthquake Canada says the 3.4 magnitude tremor was detected at 5:38 a.m. in the Salaberry-de-Valleyfield region and could be felt in the Montreal area –

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This is how much fire following an earthquake in Montreal could cost

November 19, 2019 by Jason Contant

A severe earthquake in the Montreal area could cause between $10 billion and $30 billion in economic losses from fire damage, according to a new study from the Institute for Catastrophic Loss Reduction (ICLR). “This loss would be virtually fully