Canadian Underwriter

Keyword
extreme heat

News CatastrophesInsuranceMergers and Aqcuisitions

ICBC reports 124 claims and $500,000 in costs from wildfires to date

August 23, 2017 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) reported on Wednesday that it has received 124 claims to date, at a cost of $500,000, from the wildfires burning in the province. Most vehicle damage claims were related to extreme heat and smoke damage, with some vehicles even rendered as total losses, ICBC reported in a press release.
Recognizing that it is experiencing the “worst wildfire season in the province’s history,” ICBC added that it has made formal changes to its policies to reflect “these special circumstances for customers on evacuation…

News CatastrophesInsuranceMergers and Aqcuisitions

Saskatoon thunderstorm estimated to cost over US$30 million, floods and convective storms cost global economy US$5 billion in June: Aon Benfield

July 6, 2017 by Canadian Underwriter

A thunderstorm over Saskatoon on June 2 that spawned ping pong ball-sized hail is estimated to cost more than US$30 million, Aon Benfield said in its Global Catastrophe Recap report for the month of June. The fast-developing thunderstorm caused the

News Climate ChangeInsurance

ICLR releases new book addressing extreme heat events

December 20, 2016 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) has published a book addressing the risk to Canadians from extreme heat events. Cities to adapt to extreme heat: Celebrating local leadership profiles “20 of the many successful local projects underway or already