Canadian Underwriter

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flood

Flooded Calgary Stampede grandstand
News Insurance

Should Canada’s flood insurance program combine NFIP and Flood Re?

June 29, 2022 by Jason Contant

Canada could benefit from a flood protection program combining the features of the U.S. National Flood Insurance Program (NFIP) and U.K.’s Flood Re, says credit rating agency DBRS Morningstar, but that view is not entirely shared by Insurance Bureau of

The North Thompson River in Kamloops, B.C.
News Insurance

Rain, impending heat wave prompt warning and raise flood potential in B.C.

June 22, 2022 The Canadian Press

VANCOUVER – Environment Canada says the first hot spell of the year is about to settle over much of British Columbia, bringing temperatures in the low to mid-30s until at least early next week. Special weather statements now cover the

Workers sandbag around a restaurant in Calgary in anticipation of heavy rainfall
News Insurance

Why recent Calgary storm is not like 2013 flooding

June 16, 2022 by Jason Contant

Although home to many of the costliest natural disasters in Canada, Alberta appears to have dodged a bullet with the latest rainfall event in the Calgary area. The City of Calgary declared a local state of emergency earlier this week

Collapsed sections of bridges following flooding in B.C.
News Insurance

Flood of atmospheric rivers in B.C. cost $675 million in insured damage: CatIQ

June 16, 2022 The Canadian Press

VANCOUVER – November’s floods in British Columbia that swamped homes and farms, swept away roads and bridges and killed five people are now the most costly weather event in provincial history. The Insurance Bureau of Canada made the statement as

Flood and black smoke from a fire in Abbotsford
News Insurance

P&C industry must get better at modelling secondary perils: reinsurance exec

June 13, 2022 by Jason Contant

The property and casualty insurance industry in Canada and globally needs to improve its modelling and understanding of secondary perils, which have seen increased frequency over the past decade, says a speaker from Swiss Re during an industry event. “We

The burned-out remains of businesses and properties destroyed by the Lytton wildfire
News Insurance

Rebuild of Lytton, B.C., after devastating wildfire to begin by September: minister

June 13, 2022 Sarah Ritchie - THE CANADIAN PRESS

OTTAWA – Rebuilding in the fire-ravaged village of Lytton, B.C., is likely to begin in September, according to the province’s minister of public safety. That would be 15 months after an out-of-control wildfire swept through and burned 90 per cent

Skeena River in northern British Columbia
News Insurance

Evacuations, local state of emergency in northwest B.C. as flood risk rises

June 6, 2022 The Canadian Press

VANCOUVER – Evacuation orders have been issued for three small communities in northwestern British Columbia as the flood risk rises across the region. Residents of the Terrace-area communities of Old Remo, New Remo and Usk were ordered out of their

Skeena River at Terrace, BC
News Insurance

B.C. government urges people to prepare for possible flooding as weather warms

June 2, 2022 The Canadian Press

TERRACE, BRITISH COLUMBIA – Warming weather is causing rivers to rise in northern British Columbia, prompting the province to encourage people to prepare for possible flooding.   A joint statement from the Ministry of Public Safety and Emergency Management B.C. says

Streets inundated by heavy rain in the city. The background of urban construction and management.
News BrokersCatastrophesClaimsClimate Change

Brokers want more consistency in overland flood policies

June 2, 2022 by Alyssa DiSabatino

Despite Manitoba being battered by flooding and severe weather since mid-April, many homeowners may find themselves without overland flood coverage, according to the CEO of the Insurance Brokers Association of Manitoba.   Following an “unseasonably cold spring,” significant snowmelt in

Aerial view of a residential district in Ontario
News Insurance

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

Manitoba flooding forces evacuation of hundreds
News Insurance

Manitoba premier tours flooded cottage country as waters continue to rise

May 24, 2022 The Canadian Press

WINNIPEG – Manitoba Premier Heather Stefanson has taken a helicopter tour of a flooded region in the eastern part of the province. Stefanson says the amount of water is overwhelming in Whiteshell Provincial Park, the latest area to be hit

Woman wearing waterproof boots standing in a flood home
News Insurance

Emergency alerts remain: Floodwater on Metis settlement receding

May 12, 2022 The Canadian Press

PADDLE PRAIRIE METIS SETTLEMENT – The chief administrative officer of a Metis settlement in northwestern Alberta says its members are feeling scared as floodwater that was up to the knees a few days ago recedes, exposing the damage left behind.