Canadian Underwriter

Keyword
ICLR

A crushed vehicle from a fallen tree following a tornado in Tweed, Ont. on July 25, 2022.
News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

Is Canada seeing more tornadoes every year?

February 14, 2023 by Jason Contant

Canada saw 117 recorded tornadoes across the country during the 2022 season, tying 2021 for the highest-ever single season on record, according to the Northern Tornadoes Project (NTP). As with 2021, 29 of the tornadoes reached up to EF2 on

Flooding in Abbotsford, B.C. in November 2021
News CatastrophesClimate ChangeInsurance

Climate Changed: Catastrophe experts say retreat from flood risk is ‘critical option’

October 12, 2022 Amy Smart - THE CANADIAN PRESS

VANCOUVER – All climate disasters are not created equal and the Institute for Catastrophic Loss Reduction recommends retreat in the face of only one type of threat. “In our opinion, retreat is not an option that is important for most

Rain and hail flows down from a black roof.
News Claims CanadaClimate ChangeMarkets / CoveragesProductsRisk

How to reduce hail damage costs

March 28, 2022 by Alyssa DiSabatino

One way homeowners and insurers can reduce annual hail damage is to use impact-resistant asphalt shingle roofs instead of standard shingles, finds a new report.     A new Institute for Catastrophic Loss Reduction benefit-cost analysis report shows annual hail

Water rushes through hydroelectric dam. A forest and mountains can be seen in the distance.
News Climate ChangeInsuranceRisk

New twist on underwriting flood risk: human-altered stream flows

March 11, 2022 by Alyssa DiSabatino

Human-altered stream flows, such as dams, canals or areas of heavy urbanization, are at a greater risk of flooding, new research finds. And this could potentially impact flood risk ratings, P&C industry experts say.  A study by researchers at the

News ClaimsInsurance

This is how much fire following an earthquake in Montreal could cost

November 19, 2019 by Jason Contant

A severe earthquake in the Montreal area could cause between $10 billion and $30 billion in economic losses from fire damage, according to a new study from the Institute for Catastrophic Loss Reduction (ICLR). “This loss would be virtually fully

News ConstructionEngineeringRisk

Simple ways to keep a roof on during a tornado

August 13, 2019 by Jason Contant

The Institute for Catastrophic Loss Reduction (ICLR) and home building company Doug Tarry Homes Ltd. have joined forces for a pilot project on increasing the resilience of homes to high wind and tornado events. High winds contributed in part to

News Climate ChangeConstructionInsurance

Insurer involvement urged in the building code process

January 24, 2019 by Jason Contant

The Institute for Catastrophic Loss Reduction (ICLR) and Insurance Bureau of Canada (IBC) want to restore direct insurance industry involvement in the building code process. “At some point in the distant past, perhaps four decades ago or more, the Canadian

News ClaimsInsuranceRisk

How emergency generators can help reduce insured losses

January 11, 2019 by Jason Contant

Emergency generators not only temporarily provide electricity during a power outage, but can also mitigate property damage and help reduce insured losses, says a new report from the Institute for Catastrophic Loss Reduction (ICLR). These generators can help reduced insured

News ClaimsInsurance

Few B.C. wildfire claims thus far, although situation remains fluid

August 20, 2018 by Jason Contant

Although property damage as a result of the wildfires in British Columbia has been “light” so far this year, the industry must remain vigilant as this could change quickly, said Glenn McGillivray, managing director of the Institute for Catastrophic Loss

News ClaimsClimate ChangeInsurance

How much this province’s “historic” flooding will cost the industry

August 14, 2018 by Jason Contant

Spring flooding in New Brunswick may have been “historic” and “record-setting,” but it didn’t meet the $25-million threshold of a catastrophe event. Catastrophe Indices and Quantification (CatIQ) told Canadian Underwriter Monday the flooding was a “notable event,” meaning it caused

News Markets / Coverages

Should Canada reconsider how it finances wildfire suppression?

August 13, 2018 by Jason Contant

As hundreds of wildfires burn across British Columbia, one disaster mitigation expert is recommending that Canada reconsiders how it finances fire suppression costs. Last year, B.C. alone paid out more than $560 million in fire suppression costs, and it is

News ClaimsInsurance

Ontario wildfires rage as B.C. wildfire season ramps up

July 23, 2018 by David Gambrill

Insurers are monitoring about 75 wildfires in northern Ontario this that have resulted in mandatory evacuation orders or alerts in the cottage country districts of Parry Sound and Sudbury, among other areas. “Based on what we are seeing, there aren’t