Keyword
Insured Loss
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…
Canadian insured Cat losses exceed $2 billion — again
January 11, 2022 by Jason ContantCanadian insured losses topped $2 billion for the second year in a row, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). “2021 saw much discussion of a ‘new normal’ for Canadians, but when it comes to insured losses,…
Free online offering hopes to bolster catastrophe modelling understanding
September 5, 2017 by Canadian UnderwriterWhat has been described as the first free and neutral open online catastrophe modelling course was launched today to help those working in climate change and disaster loss mitigation, academia and insurance better understand the use of models in nat-Cat…
Canada lacks ‘commercially widely available wildfire models,’ Aviva Canada reinsurance VP warns
May 2, 2017 Greg Meckbach, Associate EditorInsurers 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,”…
Windsor floods spur insured damage of almost $108 million to date: IBC
November 2, 2016 by Canadian UnderwriterFlooding affecting the Windsor and Tecumseh areas in southwestern Ontario is estimated to have caused almost $108 million in insured damage as of Sept. 30, Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc., reported Wednesday.…
200-year loss scenario from flood in Canada could produce insured losses of $5.7 billion: Swiss Re
June 15, 2016 by Canadian UnderwriterFlood is clearly the number one peril in Canada, with Swiss Re estimating that a “perfect storm” flood scenario would result in economic losses of $13.8 billion and insured losses of $5.7 billion. Developed using the company’s new probabilistic flood…
Canada in better position than most to close protection gap, collaboration key: Scotti
April 6, 2016 by Angela Stelmakowich“Canada is in a better position than many other countries to actually close its protection gap,” Veronica Scotti, president and CEO of Swiss Re Canada, said Wednesday during Swiss Re’s Canadian Insurance Outlook in downtown Toronto. “Sometimes it takes an…