Canadian Underwriter

Keyword
overland flood

News Climate ChangeInsurance

Canada starting to build a “culture of climate resilience,” insurers say

January 24, 2018 by David Gambrill

Canada is starting to create a culture of climate resilience, particularly around overland flood risk, says the Insurance Bureau of Canada (IBC), an association of Canada’s home, auto and business insurers. “We’re encouraged and fairly optimistic that the wheels are

News CatastrophesClaimsInsuranceMarkets / Coverages

Frustrated brokers ready to drop carriers over flood confusion

November 24, 2017 Greg Meckbach, Associate Editor

Swirling in the eddies of confusion about overland coverage, frustrated Canadian brokers are threatening to drop carriers and are worried about errors and omission (E&O) claims related to overland flood insurance. Canada-wide, there is a “host of wordings out there”

Feature Catastrophes

Buyer Beware

October 30, 2017 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss Reduction

Insurers have expertise in flood risk and have access to specific property information, but municipalities, with access to infrastructure data, are in a much better position to advise owners on how to assess their land for flood risk.

News CatastrophesClaimsConstructionInsuranceMarkets / Coverages

Quality of construction workmanship a major factor in water losses: RSA Canada CEO

October 27, 2017 Greg Meckbach, Associate Editor

Aging infrastructure and deteriorating construction standards are among the “major factors” leading to the challenges Canadian property insurers face when dealing with water losses, brokers heard Thursday during the CEO Panel at the Insurance Brokers Association of Ontario convention. “The

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Windsor residents ‘disappointed’ with Ontario government response after August flooding: NDP

September 22, 2017 by Canadian Underwriter

Policy makers “need to look more closely” at government programs intended to help people recover from natural disasters, and these programs “may evolve” in the coming years, Ontario Municipal Affairs Minister Bill Mauro said Thursday. During question period at Queen’s

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

Feature Mergers and Aqcuisitions

Close to Home

July 28, 2017 Robert Lajdziak, Insurance Business Consultant, Insurance Practice; and Valerie Monet Senior Director, Insurance Practice, J.D. Power

The lack of policy coverage understanding by consumers represents a major threat to home insurers’ reputations. Educating consumers now, in advance of damaging perils like flooding, could
encourage policyholder understanding and discourage dissatisfaction with insurers should such an event occur.

News CatastrophesInsuranceMergers and AqcuisitionsProductsReinsurance

MSA calls for ‘sustainable solution for underinsurance’ in overland flood

June 27, 2017 by Canadian Underwriter

A potential solution to overland flood risk in Canada “could follow” the model of Britain’s Flood Re, MSA Research Inc. suggested in a report released Monday to Canadian Underwriter. Toronto-based MSA released its Quarterly Outlook Report for Q1 2017. In

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Fairfax-Allied World deal among the ‘most noteworthy’ of recent insurance M&A announcements: Willis Re

January 3, 2017 by Canadian Underwriter

The merger agreement between Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG – announced Dec. 18 – reflects “the view that the new U.S. government may provide a more favorable corporate tax environment” and demonstrates “that scale

News CatastrophesInsuranceMergers and Aqcuisitions

Flood insurance ‘must be affordable:’ IBAC

December 16, 2016 by Canadian Underwriter

Residential flood insurance should be available and affordable and the government should provide a backstop without being an “insurer of first resort,” the Insurance Brokers Association of Canada said in a document released this week. Personal flood insurance “must be

Feature Markets / CoveragesMergers and Aqcuisitions

Maintaining Focus

November 1, 2016 The CIP Society - Insurance Institute of Canada

Brokerages would, no doubt, welcome efforts by sales team members to become the best performers possible. But pursuit of sales cannot trump the primary goal of a brokerage: to serve as a trusted advisor to clients. With the ever-changing landscape – including introduction of new products – awareness, understanding and focus is crucial to meeting the specific needs of each particular client.

News CatastrophesClimate ChangeInsurance

National model building code should account for anticipated climate change: Auditor General report

May 31, 2016 by Canadian Underwriter

Canada’s federal environment and climate change department “should work with partners” to figure out how to produce data used to measure intensity, duration and frequency of storms, and the National Research Council should “incorporate climate change trends” when developing structural