Canadian Underwriter

Keyword
flood

News Insurance

Review hears closing arguments into proposed reservoir to protect Calgary from floods

April 7, 2021 Colette Derworiz - THE CANADIAN PRESS

EDMONTON – A lawyer for Alberta Transportation says there’s a serious and urgent need for a proposed reservoir that could protect Calgary from future flooding. Ron Kruhlak made the comment during his closing argument Tuesday before the Natural Resources Conservation

News ClaimsClaims CanadaLegislation / Regulation

Ontario budget highlights property flood risk

March 25, 2021 by Greg Meckbach

Insurers are applauding the Ontario government for its commitment to improve flood mapping and to provide more money for municipal water infrastructure, measures that the industry hopes will reduce the risk of water damage to insured properties. In a press

News ClaimsInsuranceLegal

Strata unit owner loses $5,000 claim after mice chew through dishwasher line

March 24, 2021 by David Gambrill

In the case of a flood caused by a mice infestation, a B.C. strata unit owner was not allowed to recover her $500 insurance deductible or $273 premium increase from the strata corporation despite having warned the strata corporation about

News CatastrophesClaimsClaims CanadaClimate ChangeReinsurance

Advice from the U.S.: Canada needs exit strategy from national flood

March 4, 2021 by Greg Meckbach

Canada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance

News Insurance

3 Canadian cities more prepared for flood now than they were five years ago

February 19, 2021 by Jason Contant

There’s good and bad news when it comes to the flood preparedness of 16 major Canadian cities. The bad news is that the average level of flood preparedness has remained stagnant from 2015 to 2019-20, showing a considerable margin for

News AdjustersClaimsClaims CanadaCommercial LinesInsuranceLegal

Final outcome of The Co-operators’ surface water commercial property coverage dispute

February 12, 2021 by Greg Meckbach

A Supreme Court of Canada decision released Thursday means The Co-operators cannot appeal a $429,000 court decision against it over “surface water” coverage on a commercial property policy. In Co-operators General Insurance Company v. Le Treport Wedding & Convention Centre

News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

Where Canada sits with high-risk flood insurance pool

February 3, 2021 by Greg Meckbach

Industry experts are trying to calculate how much it would cost to set up an insurance pool for homes at high risk of overland flood, an Insurance Bureau of Canada official suggests. Canada’s Task Force on Flood Insurance and Relocation

News Insurance

‘Expensive, extreme:’ Environment Canada releases annual Top 10 weather stories list

December 16, 2020 Bob Weber - THE CANADIAN PRESS

It was another year of record-breaking disasters and crazy, dangerous weather from coast to coast, says Environment Canada’s senior climatologist. A vicious hailstorm in Calgary wrote off more cars than Albertans normally buy in an entire year. Heat in Ontario

News Insurance

Industry urged to get high-quality data into the hands of decision-makers

December 4, 2020 by Adam Malik

Getting consistent, high-quality scientific data into the hands of decision makers can protect people from the fallout of bad choices leading up to a catastrophe, such as what’s happened in Fort McMurray, Alta., a catastrophic data expert says. But it

News ClaimsClaims CanadaCommercial LinesLegal

‘Surface water’ commercial coverage dispute could reach Supreme Court of Canada

November 11, 2020 by Greg Meckbach

A $429,000 commercial property coverage dispute involving overflow from a body of water could reach Canada’s top court. The Supreme Court of Canada announced Nov. 6 that the Co-operators wants to appeal Le Treport Wedding & Convention Centre Ltd. v.

News AdjustersCatastrophesClaimsClaims CanadaClimate ChangeInsuranceLegislation / RegulationRisk

‘Much clearer picture’ of how Ottawa will address flood risk coming soon

September 29, 2020 by Greg Meckbach

A special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,

News Insurance

Aon exec urges the industry to ‘try to do better’ at offering basic coverages

September 22, 2020 by Adam Malik

The property and casualty insurance industry needs to to a better job of ensuring that basic coverages — such as protection from water and fire — are available to clients and that there isn’t a protection gap, said Matt Wolfe,