Canadian Underwriter


Christchurch cathedral in New Zealand following the 2011 earthquake.
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What Canadian insurers can learn from a New Zealand earthquake

June 30, 2023 Philip Porado

Private property and casualty (P&C) insurers can’t be the sole providers of coverage for peak peril because they cannot efficiently assume extreme tail risk. That’s a key takeaway for Canada’s P&C insurers from a catastrophic 2011 earthquake in Christchurch, New

Canada risk of earthquake
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Which peril might bankrupt the Canadian P&C industry?

June 28, 2023 Canadian Underwriter Staff

Ottawa’s effort to build policy around flood risk in the face of climate change is important, but it overlooks a peril that could be far more catastrophic for Canadian P&C insurers, Alister Campbell, president and CEO of Property and Casualty

Businesswoman calculating finances in an office
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OSFI to review earthquake risk and minimum capital tests 

May 25, 2023 by Jason Contant

Canada’s solvency regulator will take a closer look at earthquake risk and the minimum capital test (MCT) for P&C insurers, an executive from the Office of the Superintendent of Financial Institutions (OSFI) said during an industry event last week.  Earthquake

Drilling rig in Alberta
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Regulator defends finding that Alberta’s largest earthquake was caused by oilpatch

March 30, 2023 Bob Weber - THE CANADIAN PRESS

EDMONTON – Alberta’s energy regulator has defended its finding that the province’s largest recorded earthquake was caused by oilpatch activity, saying the pattern of temblors since last fall clearly points to a water disposal well even though there’s no suggestion

A closeup of a seismograph machine needle drawing a red line on graph paper depicting seismic and earthquake activity - 3D render
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New earthquake model considers eastern Canada risk

March 9, 2023 by Jason Contant

Aon plc has launched a new earthquake model for Canada, one that takes into account the well-known risk in western provinces but also the lesser-known risk in eastern Canada. The model is based on the latest scientific research from Natural

Earthquake in central Montreal
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What’s the best way to increase earthquake insurance take-up in Quebec?

February 8, 2023 by Jason Contant

The best way to get consumers to buy earthquake insurance in provinces like Quebec is to find a balance between highlighting the benefits of early intervention and not making the narrative too scary, a research social scientist told delegates at

Earthquake seismograph pattern
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What a Canadian public earthquake backstop might look like

January 31, 2023 by David Gambrill

A federal government backstop designed to help private insurers cover high-risk flooding could be extended to protect Canadians from earthquake risk as well, Canada’s home, car and business insurers suggested in a release Tuesday. Meanwhile, in the absence of a

Looking at an earthquake early warning sensor app on a phone
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B.C. to install earthquake warning sensors to give life-saving notice

January 27, 2023 The Canadian Press

VICTORIA – Up to 50 earthquake early warning sensors are being installed around British Columbia as part of a larger plan to protect people and infrastructure in a big quake. The sensors will be connected to the national Earthquake Early

A closeup of a seismograph machine needle drawing a red line on graph paper depicting seismic and earthquake activity - 3D render
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Alberta’s largest-ever earthquake: Will it happen again?

December 8, 2022 by Jason Contant

A rare 5.6-magnitude earthquake that’s been reported as the largest ever recorded in Alberta could occur again, suggested Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction. Earthquakes Canada reported the moderate earthquake near the hamlet of Reno

Cracked concrete after an earthquake
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Largest recorded Alberta earthquake probably natural, scientist says

December 1, 2022 Bob Weber - THE CANADIAN PRESS

EDMONTON – The largest earthquake ever recorded in Alberta, which rattled homes and nerves Tuesday, was probably due to natural causes, says a geologist. Rebecca Salvage of the University of Calgary says the 5.6-magnitude quake that rumbled near Peace River

Aerial view of a residential district in Ontario
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Canada’s most exposed insurance lines

May 31, 2022 by Jason Contant

Exposure related to insuring personal lines of business in general continues to see steady growth in the Canadian P&C insurance industry, with a whopping $9.3 trillion of personal property assets in Canada now insured against fire, according to Catastrophe Indices

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What can be done just seconds before an earthquake hits?

December 7, 2021 by Jason Contant

Natural Resources Canada (NRC) is developing an earthquake early warning system that will provide valuable time before an earthquake strikes to allow protective measures to be put in place for people and critical infrastructure. “It can provide anywhere between seconds