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Why crop insurance won’t come soon enough for these Prairie farmers

November 11, 2019 Bill Graveland - THE CANADIAN PRESS

Winter’s icy fingers have touched most of the Prairies since late September, causing havoc and frustration for many farmers trying to get crops off their fields. Dave Reid, who farms near Cremona, northwest of Calgary, estimates 20 to 25 per

News Catastrophes

What the industry paid out for severe weather in 2018

January 17, 2019 by Greg Meckbach

The industry lost nearly $2 billion last year in Canada alone from the combined effect of several weather catastrophes. “No single event caused the high amount paid out for losses,” the Insurance Bureau of Canada said Wednesday in a release.

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

How insurers protect their earnings against multiple catastrophes

January 4, 2018 by David Gambrill

With the rise of multiple major catastrophe events in Canada, look for primary insurers to start seeking aggregate reinsurance covers as a means to adapt to climate change-related losses. “It’s the new normal that the companies are going to have

News InsuranceMarkets / CoveragesTechnology

Five things for insurance professionals to watch for

November 28, 2017 Jason Contant, Online Editor

Five factors, outlined below, can make or break the state of the Canadian property and casualty (P&C) insurance, says Nazir Valani, partner and national leader with KPMG in Canada’s actuarial practice. He spoke Tuesday at KPMG’s Annual Insurance Conference in

News ConstructionInsuranceMergers and AqcuisitionsTechnology

Commercial fleet managers should have ‘clear and straightforward guidelines’ on drivers’ use of electronic devices: Northbridge

June 19, 2017 by Canadian Underwriter

It is not necessarily safe to use hands-free electronic devices while driving, especially when operating construction or contractor’s equipment, Northbridge Insurance suggested in a blog post Monday. Fleet managers should “include a policy on the use of wireless communication devices”

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsTechnology

Oral fluid drug screening devices can be “successfully used in Canada,” Public Safety Canada reports

June 7, 2017 by Canadian Underwriter

Results from the federal government’s oral fluid drug screening device pilot project suggest the devices can be “successfully used in Canada” to identify drivers who test positive for certain drugs in various conditions, Public Safety Canada (PSC) reported on Tuesday.

News AssociationsCatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

Feature LegalMergers and Aqcuisitions

School of Thought

April 1, 2017 Dawn H. Puro, Senior Vice President, Specialty Casualty, Public Entity Lines, Ironshore; and Victor Ip, Vice President, Specialty Casualty, Ironshore Canada

Risks associated with higher education institutions are many, ranging from targeted violence to indiscriminate severe weather. Whether planned or not, both types of events demand a well-conceived emergency response be available.

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 Climate ChangeConstructionEarnings / RatingsMergers and AqcuisitionsTechnology

Weather risk accounts for an estimated US$56 billion in untapped wind energy asset values globally: GCube

January 31, 2017 by Canadian Underwriter

Resource underperformance has surpassed mechanical breakdown and component damage as the major obstacle to achieving bankable wind energy projects, GCube Underwriting Ltd. notes in a report estimating the untapped asset values of wind energy stakeholders around the world at US$56

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Fort McMurray wildfire tops annual meteorologist list of weather stories

January 3, 2017 The Canadian Press

TORONTO – The “beast” of a wildfire that charred Fort McMurray, Alta., was named Canada’s biggest weather story of the year in an annual list compiled by the country’s top meteorologists. The list, which also includes the melting Arctic Sea

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Record new Cat bond, ILS issuance in 2016 spurs highest-ever outstanding market size: Artemis.bm

January 3, 2017 by Canadian Underwriter

Catastrophe bonds and similarly structured insurance-linked securities (ILS) deals in 2016 propelled the market to record levels, with the approximately US$7 billion in new issuance resulting in an outstanding market size of US$26.82 billion at year-end, notes the latest edition