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Fort McMurray wildfire


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Cat bonds with coverage for Canada in the first half of 2017 totalled $2.7 billion: PCS

July 5, 2017 by Canadian Underwriter

Sponsors completed six catastrophe bonds with coverage for Canada in the first half of 2017, raising $2.7 billion through transactions that included Canada, Property Claim Services (PCS) said in its PCS H1 2017 Catastrophe Bond Report. The first cat bond,

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Report into Fort McMurray wildfire cites communications breakdown in early days

June 9, 2017 Dean Bennett - THE CANADIAN PRESS

EDMONTON – A report into the Fort McMurray wildfire cites critical communications breakdowns as the fire swept into the municipality and forced thousands to flee. Independent consultants that produced the report for the province noted that in the early days

News CatastrophesInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Need for more collaboration between municipalities one lesson learned from Fort McMurray wildfire, CIFF conference hears

May 26, 2017 Jason Contant, Online Editor

The need for more collaboration between various municipalities and the consequences of poor land use policies were just two lessons learned from the Fort McMurray wildfire, a speaker said on Wednesday at the Canadian Insurance Financial Forum (CIFF). Michael Brisebois,

News CatastrophesClimate ChangeConstructionInsuranceMarkets / CoveragesMergers and Aqcuisitions

Rebuilding after disasters should stress safer, better, Goodale says

May 11, 2017 Jordan Press - THE CANADIAN PRESS

OTTAWA – As the devastating floodwaters recede in Ontario and Quebec, the key to preventing a similar disaster in future is to avoid making the mistakes that led to problems in the first place, says Public Safety Minister Ralph Goodale.

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Insurance industry should look ahead to even larger losses than Fort McMurray, ICLR chair suggests

May 5, 2017 by Canadian Underwriter

The insurance industry should start thinking about what “could have been” if the Fort McMurray wildfire had been an even larger loss, the chair of Institute for Catastrophic Loss Reduction (ICLR) said on Friday at the institute’s annual general meeting.

News CatastrophesClimate ChangeConstructionInsuranceMergers and Aqcuisitions

New FireSmart Home Development Guide targets Canadian wildfire resiliency

May 5, 2017 by Canadian Underwriter

FireSmart Canada, in partnership with The Co-operators, has developed a new resource to help Canadian residents make their homes more resilient to wildfire. The FireSmart Home Development Guide, which will become part of the FireSmart Home Partners Program, outlines specific

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Wildfire Community Preparedness Day gearing up one year after Fort McMurray

May 4, 2017 by Canadian Underwriter

One year after the Fort McMurray wildfire started and eventually became Canada’s costliest natural disaster, community groups across the country are gearing up to taking part in the third annual Wildfire Community Preparedness Day (WCPD) to take measures to reduce

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Canada lacks ‘commercially widely available wildfire models,’ Aviva Canada reinsurance VP warns

May 2, 2017 Greg Meckbach, Associate Editor

Insurers have no “meaningful way of modelling wildfire” losses, a senior executive for Swiss Re Ltd. recently suggested to industry professionals. “If you look at it globally speaking, usually about half of the total insured losses globally are unmodelled perils,”

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Alberta needs new operations centre to manage disasters: minister

April 27, 2017 John Cotter - THE CANADIAN PRESS

EDMONTON – Alberta is looking at building a new operations centre to better manage how it responds to disasters such as the Fort McMurray wildfire. Municipal Affairs Minister Shaye Anderson said the need for a larger and more modern nerve

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Impact of Fort McMurray wildfire softened by reinsurance risk sharing: DBRS

April 26, 2017 by Canadian Underwriter

Most Canadian insurers were able to generate positive underwriting results in Alberta through their use of reinsurance risk sharing following the Fort McMurray wildfire, credit ratings agency DBRS Limited said in a commentary released on Wednesday. The commentary, titled 2016

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Canadian industry underwriting income down 81% in 2016: MSA

April 18, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released

News CatastrophesClimate ChangeInsuranceMarkets / Coverages

Warm summer means increased risk of forest fires, meteorologists say

April 17, 2017 The Canadian Press

Nearly a year after the massive wildfire that devastated Fort McMurray, Alta., a climate scientist says there may be more forest fires in Canada this summer. “If the forecast’s right that it’s a warmer than normal summer, we’ll probably have