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Evacuees return home near Kelowna, B.C., as wildfire continues to burn

August 28, 2017 The Canadian Press (CPSTF)

KELOWNA, B.C. – Hundreds of people forced from their homes by a wildfire burning east of Kelowna, B.C., have been allowed to return, but others remain displaced. The Central Okanagan Regional District said an evacuation order for 263 properties was lifted Sunday morning and about 600 residents are now allowed to go home.
About 400 other residents remain under evacuation order due to the flames, and people who have been allowed to return will remain on evacuation alert, meaning they must be prepared…

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

IBC encouraging policyholders to discuss policy limits with insurers as B.C. wildfires continue

July 10, 2017 by Canadian Underwriter

As British Columbia has declared a state of emergency due to wildfires burning out of control throughout much of the Interior, the Insurance Bureau of Canada (IBC) is encouraging policyholders to discuss policy limits with their insurer. Most home and

News CatastrophesInsuranceMarkets / Coverages

Wildfire Grading Index launched following losses in Kelowna, Slave Lake and Fort McMurray

June 7, 2017 by Canadian Underwriter

Fire Underwriters Survey (FUS), a division of Opta Information Intelligence, has developed a new model for insurers to better understand the risk of wildfire-related losses. The model was developed after FUS studied the wildfire losses in Kelowna, Slave Lake and

News Earnings / RatingsInsuranceMergers and AqcuisitionsProfessional DevelopmentReinsurance

Combined ratio for Canadian insurance industry in Q1 2017 estimated at 101.3%, up from 94.7% in Q1 2016: Baker

May 24, 2017 Jason Contant, Online Editor

The insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and

News CatastrophesInsuranceMergers and Aqcuisitions

High winds add to flooding fears as storm approaches southern B.C.

May 23, 2017 The Canadian Press

VANCOUVER – Flood-weary regions of British Columbia’s southern Interior are bracing for another battering, this time from high winds. Environment Canada has issued special weather statements for parts of Vancouver Island, Metro Vancouver and most of the southern Interior, including

News CatastrophesInsuranceMergers and Aqcuisitions

Flooding expected to be ‘unlike anything ever seen,’ warns Kelowna mayor

May 12, 2017 The Canadian Press

VANCOUVER – British Columbia’s Okanagan region is bracing for a storm that Kelowna’s mayor worries could unleash the worst flooding the region has ever seen. Mayor Colin Basran posted a Facebook statement describing expected water levels as “unlike anything we

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Too early to confirm costs from flooding in B.C., Ontario, Quebec and Maritimes: Aon

May 11, 2017 by Canadian Underwriter

Persistent recent heavy rainfall falling across several Canadian provinces has led to increasingly rising rivers, streams and lakes this week, as communities “raced to protect from water inundation,” Impact Forecasting said on Thursday in an Aon cat alert. Financial losses

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

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 CatastrophesReinsurance

Wildfire still active, 75% contained in British Columbia’s Okanagan Valley

August 24, 2016 THE CANADIAN PRESS

WEST KELOWNA, B.C. — Visitors forced to flee from a campsite in British Columbia’s Okanagan Valley ahead of a raging wildfire on Sunday night will have a chance to retrieve abandoned items. The Central Okanagan Regional District says people who

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

B.C. commits $750,000 in funding for flood mitigation projects in Delta and Kelowna

June 23, 2016 by Canadian Underwriter

British Columbia’s Ministry of Transportation and Infrastructure announced on Wednesday $750,000 in funding for flood mitigation projects in the province’s Kelowna and Delta areas. The ministry said in a press release on Wednesday that it is committing $550,000 in funding