Keyword
flood
More B.C. heat records fall, conditions prompt flood watch
July 28, 2022 by Jason ContantVANCOUVER – Temperature records are melting across British Columbia as a prolonged heat spell grips the province but Emergency Management BC says it is not anticipating an extreme heat emergency. A statement from the agency says residents should monitor temperature…
How Canada’s costliest perils compare to the rest of the world
July 19, 2022 by Alyssa DiSabatinoThe fire/explosion peril continues to crux Canadian insurers, accounting for 38% of all corporate insurance losses by value of claims, according to Allianz Global Corporate & Specialty’s (AGCS) Global Claims Review 2022. Natural catastrophes peak as Canada’s second highest major…
Should Canada’s flood insurance program combine NFIP and Flood Re?
June 29, 2022 by Jason ContantCanada 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…
Rain, impending heat wave prompt warning and raise flood potential in B.C.
June 22, 2022 The Canadian PressVANCOUVER – 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…
Why recent Calgary storm is not like 2013 flooding
June 16, 2022 by Jason ContantAlthough 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…
Flood of atmospheric rivers in B.C. cost $675 million in insured damage: CatIQ
June 16, 2022 The Canadian PressVANCOUVER – 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…
P&C industry must get better at modelling secondary perils: reinsurance exec
June 13, 2022 by Jason ContantThe 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…
Rebuild of Lytton, B.C., after devastating wildfire to begin by September: minister
June 13, 2022 Sarah Ritchie - THE CANADIAN PRESSOTTAWA – 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…
Evacuations, local state of emergency in northwest B.C. as flood risk rises
June 6, 2022 The Canadian PressVANCOUVER – 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…
B.C. government urges people to prepare for possible flooding as weather warms
June 2, 2022 The Canadian PressTERRACE, 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…
Brokers want more consistency in overland flood policies
June 2, 2022 by Alyssa DiSabatinoDespite 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…
Canada’s most exposed insurance lines
May 31, 2022 by Jason ContantExposure 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…