Canadian Underwriter

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Feature CatastrophesClimate Change

Cross-currents

June 11, 2019 Jason Contant, Online Editor

With overland water damage claims rolling in from major floods across the country, the question still arises: are clients covered?

News BrokersInsurance

How brokers personally assist during floods

May 2, 2019 by Jason Contant

The flooding last year in Grand Forks, B.C. was a prime example of how an insurance broker provides more than just policy advice and advocacy when disaster strikes. A broker could provide money upfront for additional living expenses, emotional support

News InsuranceMarkets / Coverages

Is the industry taking a consistent approach to overland flood coverage?

April 23, 2019 by Jason Contant

Are carriers taking a consistent approach to covering overland flood? The flood waters sweeping across New Brunswick and Quebec have brought the issue to the forefront. In general, overland flood was not covered in Canada until 2015; only sewer backup

News InsuranceMarkets / Coverages

Where Canada sits with overland flood insurance

June 5, 2018 by Greg Meckbach

Five years after massive flooding caused more than $4 billion in uninsured losses in Alberta, more than a dozen insurers representing about three-fourths of Canada’s property insurance market are now covering overland flood. Sixteen insurers representing 77% of the market

News InsuranceMarkets / Coverages

What Canada’s largest city is doing to help reduce flood insurance claims

January 10, 2018 by Greg Meckbach

As climate experts forecast more frequent extreme rain events, Toronto is working towards protecting properties by modernizing its storm drainage system. With its Basement Flooding Protection Program, Toronto’s city government brought in a new standard of accommodating a one-in-100-year storm

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

News Earnings / RatingsInsuranceMarkets / Coverages

RSA reports combined ratio of 94.8% for first half of 2017 in Canada ‘despite higher large losses’

August 2, 2017 by Canadian Underwriter

RSA Insurance Group plc reported Wednesday that its net premiums written in Canada during the six months ending June 30 were 5% higher, on a constant rate of exchange basis, than in the same period in 2016. Meanwhile, in Canada,

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Toronto city managers authorized to negotiate $10.9-million agreement with ClaimsPro

March 29, 2017 by Canadian Underwriter

Toronto City Council voted Tuesday to authorize staff to enter into a three agreement with ClaimsPro LLP to provide adjusting services to the city. ClaimsPro, owned by SCM Insurance Services Inc., was one of four adjusting firms to respond in

News CatastrophesInsuranceMergers and Aqcuisitions

Thanksgiving floods in Atlantic Canada caused more than $100 million in insured damage: CatIQ

November 18, 2016 by Canadian Underwriter

A tropical moisture system resulting from Hurricane Matthew that swept through Atlantic Canada last month has resulted in over $100 million in insured damage, according to Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ). A cold front interacting with Matthew’s tropical

News CatastrophesInsuranceMergers and Aqcuisitions

Unica Insurance launches single-solution coverage for water damage losses in Ontario

October 5, 2016 by Canadian Underwriter

Mississauga, Ont.-based Unica Insurance announced on Wednesday the launch of WATERtight protection, what it is calling “a comprehensive solution for water damage losses.” WATERtight protection is a single-product offering that provides coverage for damage caused by overland flooding, ground water,

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Optimum General offers overland water damage coverage for residences in Ontario and B.C.

June 3, 2016 by Canadian Underwriter

Montreal-based Optimum General Inc. announced on Friday that is has launched a residential policy endorsement in Ontario and British Columbia which now covers overland water damages. Optimum General said in a press release that the endorsement, which was launched on