Keyword
severe weather
Where spring showers have done much of the damage in 2019 1H
August 14, 2019 by Jason ContantPayout amounts and the number of claims related to severe weather in Quebec have increased dramatically in the first half of the year compared to 2018, Insurance Bureau of Canada (IBC) reported recently. Successive weather events marked the first half…
The Power of Now
July 1, 2019 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss Reduction (ICLR)The industry is quite rightly focused on the future to assess emerging issues, but it must remain mindful of the present moment to address two major drivers of its poor results.
Beleaguered industry faces prospect of more flood damage in Ontario
August 21, 2018 by David GambrillMost of Ontario is under a severe weather warning Tuesday, once again threatening flood damage in a province where insurers have already paid approximately $800 million for natural catastrophe damages. This cumulative total for the year in Ontario does not…
Mobile app offers an ounce of prevention to P&C insurance consumers
March 22, 2018 by Jason ContantAs Canada’s wireless providers prepare to provide mandatory smartphone alerts for natural disasters and other emergencies, Desjardins General Insurance Group (DGIG) will soon allow its customers access to a severe weather alert system through mobile apps. This week, the Canadian…
Desjardins’ weather alerts: sign of a preventative insurance model?
March 19, 2018 by Jason ContantDesjardins General Insurance Group (DGIG) will soon launch severe weather alerts allowing consumers to take pre-emptive steps to protect their property from potential damage. The move is indicative of a larger trend towards a preventative insurance model, as found in…
Planning for a public emergency? Don’t follow Ontario’s example
December 6, 2017 Greg Meckbach, Associate EditorOntario’s emergency planning for risks such as severe weather, terrorism and cyber-attacks is in dire need of an update, the province’s auditor general concluded in a report released Wednesday. The province’s severe weather plan has not been updated in 12…
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…
2016 was the warmest year on record for the globe, Canadian Prairies experienced one of the “longest and most active storm seasons”: report
August 11, 2017 by Canadian UnderwriterLast year topped 2015 as the warmest year in 137 years of record keeping and marked the third consecutive year of record warmth, the National Oceanic and Atmospheric Administration (NOAA) reported on Thursday. The 27th annual State of the Climate…
Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR
August 9, 2017 by Canadian UnderwriterIn 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…
Allstate estimates June catastrophe losses at US$335 million
July 24, 2017 by Canadian UnderwriterThe Allstate Corp. announced July 20 it estimates its catastrophe losses for the three months ending June 30 will be $993 million, pre-tax, of which $310 million is from 17 events in June alone. Northbrook, Ill.-based Allstate reported in August,…
IBC congratulates City of Toronto on the creation of a chief resilience officer position
July 5, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is congratulating the City of Toronto “for its ongoing commitment to emergency preparedness” with the recent establishment of a chief resilience officer for the city. Last month, Tory announced that the position will be…
AIR Worldwide releases probabilistic crop hail model for Canada
June 26, 2017 by Canadian UnderwriterAIR Worldwide has released what the catastrophe risk modelling firm calls the industry’s first crop hail model to provide stakeholders across the crop insurance value chain with a probabilistic view of the effects of hail on Canadian crops. Currently available…