Canadian Underwriter

Keyword
Insurance Bureau of Canada


News AssociationsCatastrophesConstructionInsuranceMergers and Aqcuisitions

‘Prudent’ municipal development needed to reduce catastrophe losses: IBC

July 14, 2016 by Canadian Underwriter

With the recent wildfire in Fort McMurray, Alta. being the most expensive natural disaster in Canadian history and in the same province as Canada’s second most expensive catastrophe, officials from Insurance Bureau of Canada recently suggested that building codes and

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Oilsands companies not expected to make insurance claims from Fort McMurray fire

July 11, 2016 by Canadian Underwriter

CALGARY – Oilsands producers are not expected to be among the recipients of a record insurance payout arising from the wildfire in Fort McMurray, Alta., in May even though some of them had to halt production for weeks at a

News CatastrophesInsuranceMergers and Aqcuisitions

Nearly $3.6 billion in insured losses from Fort McMurray wildfire: CatIQ

July 7, 2016 by Canadian Underwriter

Insured damage from the recent wildfire affecting Fort McMurray, Alta. is estimated at $3.58 billion, Insurance Bureau of Canada’s vice president western and Pacific, Bill Adams, said Thursday. A third of the $3.58 billion loss is commercial property, 5% is

Feature CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Response to Recovery

July 2, 2016 Bill Adams, Vice President, Western and Pacific, Insurance Bureau of Canada

What has been projected to be Canada’s largest insured loss event, the wildfire in and around Fort McMurray, perhaps will become known for something more positive: how early, co-ordinated and collaborative insurance industry response can help smooth the way to recovery.

News AssociationsInsuranceLegislation / RegulationMarkets / Coverages

New Ontario financial services regulator should have anti-fraud authority: Panel

June 20, 2016 by Canadian Underwriter

The Ontario government should establish a new organization that would perform the functions currently performed by the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO) but also have a “specific fraud-deterrence mandate,” an expert

News CatastrophesClimate ChangeConstructionInsuranceMergers and Aqcuisitions

Catastrophic Fort McMurray wildfire shows need for fire resilience

May 6, 2016 by Canadian Underwriter

The devastating wildfire in and around Fort McMurray – an event that has been estimated could produce insured losses of as much as $9 billion, becoming the most cost disaster event ever in Canada – clearly illustrates the pressing need

Feature InsuranceLegislation / RegulationMergers and Aqcuisitions

Tired of Losses

May 1, 2016 Greg Meckbach, Associate Editor

Driver distraction and fatigue are believed to be the root causes of many large auto losses. Even when drivers have their eyes on the road, the mere act of talking on a hands-free wireless device can adversely affect both field of vision and the ability to concentrate on the task of driving, one risk management expert cautions. While hours of service regulations stipulate the amount of rest that commercial drivers must have, one sleep expert warns that sleeping at the right time is just as important as getting the right amount of sleep.

News AssociationsCatastrophesInsuranceMergers and Aqcuisitions

Catastrophic earthquake could threaten Canada’s p&c industry, government backstop needed for “unthinkable” events: IBC

April 22, 2016 by Angela Stelmakowich

A catastrophic earthquake could threaten Canada’s property and casualty industry, clearly illustrating the need to have in place a government backstop, Sylvie Paquette, chair of the Board of Directors for Insurance Bureau of Canada (IBC), said following IBC’s Annual General

News AssociationsInsuranceMergers and Aqcuisitions

Work on refining IBC’s flood proposal continues, all properties must be covered under strategy: Forgeron

April 21, 2016 Angela Stelmakowich, Editor

No country offering flood protection has got things “100% right,” but Insurance Bureau of Canada (IBC) will continue to refine its proposal for a national flood strategy that ensures all areas, even high-risk areas, are covered and that works for

News AssociationsInsurance

Consistent approach by Canada’s p&c insurers essential to address existing, emerging issues: IBC chair

April 21, 2016 Angela Stelmakowich, Editor

Collaboration and consistency among Canada’s property and casualty insurers will be key as the industry looks to tackle top-of-mind issues – like the sharing economy and overland flood – in a rapidly changing and increasingly complex environment, Sylvie Paquette, chair

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsTechnology

Canada’s p&c industry sees big jump in underwriting income, big drop in nat-cat losses in 2015: IBC

April 6, 2016 by Angela Stelmakowich

Despite the challenges and fluctuations of 2015 – including plummeting oil prices – Canada’s property and casualty industry “had a relatively good year,” with underwriting income tripling to about $1.7 billion, David McGown, senior vice president of strategic initiatives for

Feature CatastrophesClimate ChangeInsurance

Prepare for Anything

April 1, 2016 Greg Meckbach, Associate Editor and Jason Contant, Online Editor

Canadians are well-aware of events that can produce insured losses, including storms and cold weather. But the possible influence of other less-familiar perils, like earthquakes and cyber cats, should also be on the radar.