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Southwestern Ontario storm that flooded Brantford cost insurers $57 million

March 20, 2018 by Jason Contant

A February storm that affected Brantford, Ont., as well as other areas of southwestern Ontario and Quebec, is estimated to have cost more than $57 million in insured damaged, Catastrophe Indices and Quantification Inc. (CatIQ) said Tuesday. Between Feb. 19

News InsuranceMarkets / Coverages

Ontario’s new medical centres: glorified DAC 2.0?

December 6, 2017 Greg Meckbach, Associate Editor

Ontario’s new system of independent medical exam centres for auto accident benefits claims, announced Tuesday, will need to be different from the designated assessment centres (DACs) that were abolished in 2006, a former DAC committee chair told Canadian Underwriter Wednesday.

News InsuranceLegislation / RegulationMarkets / Coverages

Ont. auto accident benefits shouldn’t entail ‘arguing about what care is appropriate each and every time’

October 25, 2017 Greg Meckbach, Associate Editor

Addressing the problems of both Ontario’s auto insurance and workers compensation systems calls for packages of care that work for most injured people and not for cash settlements, the former chief executive officer of the Workplace Safety Insurance Board suggested

News AnnouncementsAssociationsCatastrophesInsurance

Record number of registrants in 2017 Great British Columbia ShakeOut earthquake drill: IBC

October 20, 2017 by Canadian Underwriter

Awareness of earthquake risk in British Columbia looks to be on the rise if registrants for the 2017 Great British Columbia ShakeOut, which reached record numbers this year, is any indicator. A record 886,000 British Columbians participated Thursday, joining millions

News AssociationsCatastrophesInsurance

Understanding of quake protective measures, insurance coverage faulty in Quebec: survey

October 19, 2017 by Canadian Underwriter

The lion’s share of polled Quebecers remain unprepared for an earthquake, with a mere 8% of respondents understanding the immediate protective measures that should be taken in the event of a quake, Insurance Bureau of Canada (IBC) reports. The concerning

News Insurance

Integrating disaster risk, resilience into broader systems key to unlocking climate adaptation abilities

October 13, 2017 by Angela Stelmakowich

A systemic disconnect between material natural disaster risk, asset valuation and infrastructure investment demands that disaster risk and resilience be integrated into broader financial, accounting and reporting systems, David Greenall, senior director of sustainable business solutions for PwC Canada, told

News CatastrophesClaimsClimate ChangeMergers and Aqcuisitions

Standard would help enhance flood resilience of new communities: report

September 26, 2017 by Angela Stelmakowich

Research out of the University of Waterloo recommends a Canadian standard for new flood-resilient residential communities, one that employs almost two dozen best practices, be developed to bolster protection and reduce water-related losses. Requiring that new homes not be built

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

BIP Talk aims to let brokers ‘better understand’ underlying problems with Ontario auto insurance: Forgeron

August 25, 2017 Greg Meckbach, Associate Editor

More than four months after the release of David Marshall’s report on auto insurance, Insurance Bureau of Canada’s president and chief executive officer is hoping Ontario’s brokers will “add their voice” to calls from the industry to “fundamentally overhaul” auto

News InsuranceLegislation / RegulationMergers and AqcuisitionsProducts

Government of Newfoundland and Labrador finalizes terms of reference for auto insurance review

August 16, 2017 by Canadian Underwriter

The provincial government announced on Tuesday that it has finalized the terms of reference for the automobile insurance review for Service NL and the provincial Board of Commissioners of Public Utilities (PUB). Government has directed PUB to begin its review

News AssociationsInsuranceLegislation / RegulationMergers and Aqcuisitions

Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR

August 9, 2017 by Canadian Underwriter

In a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk

News AssociationsCatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Estimated insured damage for June storm in central Alberta upwards of $30 million

July 17, 2017 by Canadian Underwriter

A severe storm that swept through central Alberta in the third week of June is estimated to have caused more than $30 million in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc.

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

State of emergency continues as wildfires affect interior B.C.

July 13, 2017 by Canadian Underwriter

Mining and wood products are among the industries affected by wildfires in British Columbia’s interior, where a state of emergency is in place. Imperial Metals Corp. announced Wednesday that an open pit copper/gold mine 56 kilometres northeast of Williams Lake