Canadian Underwriter


News CatastrophesInsurance

Big banks shave 2016 growth outlooks for Canada in wake of Alberta wildfire

May 12, 2016 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The effects of the enormous Alberta wildfire on the ever-crucial oil sector have prompted forecasters to trim their 2016 economic growth predictions for the entire country. Experts, including those from several big banks, have shaved their outlooks in

News CatastrophesInsurance

Update puts buildings lost in Fort McMurray at 2,400, but 25,000 saved

May 9, 2016 By Lauren Krugel - THE CANADIAN PRESS

EDMONTON – Alberta Premier Rachel Notley says the “ocean of fire” that hit Fort McMurray burned about 10 per cent of the buildings, but the hard work of firefighters saved the bulk of the city so it can be rebuilt.

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and Aqcuisitions

Fort McMurray wildfire could hurt 2016 Q2 results for some Canadian p&c insurers, companies offering help

May 9, 2016 by Angela Stelmakowich

Credit rating agency Moody’s does not anticipate the massive wildfire in and around Fort McMurray will be a credit event for Canada’s property and casualty industry, but is likely to have an impact on 2016 Q2 results for property insurers.

News CatastrophesInsurance

A look at how a wildfire consumed large parts of Fort McMurray

May 8, 2016 The Canadian Press

FORT MCMURRAY, Alta. – A wildfire has devastated the community of Fort McMurray. Here is a timeline of events: Sunday – A fire starts in a remote part of forest southwest of Fort McMurray. Investigators don’t know how it started,

News CatastrophesInsurance

Officials say it could take months to extinguish massive Alberta blaze

May 7, 2016 By John Cotter - THE CANADIAN PRESS

FORT MCMURRAY, Alta. – Fire officials are bracing themselves for a long, long fight against the blaze that forced the evacuation of Fort McMurray and has eaten up more than 1,500 square kilometres of northern Alberta forest. “Unless we have

News CatastrophesClimate ChangeConstructionInsuranceMergers and Aqcuisitions

Catastrophic Fort McMurray wildfire shows need for fire resilience

May 6, 2016 by Canadian Underwriter

The devastating wildfire in and around Fort McMurray – an event that has been estimated could produce insured losses of as much as $9 billion, becoming the most cost disaster event ever in Canada – clearly illustrates the pressing need

News CatastrophesInsurance

Crews scramble as Fort McMurray fire explodes in size, continues to threaten

May 5, 2016 By John Cotter – THE CANADIAN PRESS

FORT MCMURRAY, Alta. – Crews fighting to save Fort McMurray from rampaging flames water bombed the city Thursday to try to keep away a wildfire so intense it has spawned its own weather. “It was creating its own high winds

News CatastrophesInsuranceMergers and Aqcuisitions

An estimated 90% of homes in Fort McMurray, Alta. neighbourhood lost in wildfire

May 4, 2016 by Canadian Underwriter

An estimated 90% of the homes in the Waterways neighbourhood of Fort McMurray, Alta. have been lost as a major wildfire continues to sweep through the town. The Regional Municipality of Wood Buffalo said in a media briefing on Wednesday

News CatastrophesMergers and Aqcuisitions

Out of control Alberta wildfire prompts evacuation order for 700

May 2, 2016 The Canadian Press

FORT MCMURRAY, Alta. – An out-of-control wildfire has forced about 700 people from their homes near Fort McMurray in northern Alberta. Emergency officials issued a mandatory evacuation order late Sunday for residents of the Centennial Trailer Park and Prairie Creek

News CatastrophesInsuranceMergers and Aqcuisitions

Progress made on wildfires in British Columbia’s Cariboo region

April 13, 2016 by Canadian Underwriter

Fire crews in British Columbia are continuing their efforts to suppress a wildfire burning three kilometres south of the Nazko community, the province’s Ministry of Forests, Lands and Natural Resource Operations said on Tuesday. As of Tuesday, the Nazko fire

News CatastrophesInsuranceLegislation / RegulationMergers and Aqcuisitions

Increased wildfire-related violation tickets come into force in B.C.

April 4, 2016 by Canadian Underwriter

Increased fines for a variety of wildfire-related violation tickets came into force in British Columbia on Friday. The province’s Ministry of Forests, Lands and Resource Operations said in a press release on Monday that anyone caught contravening specified open burning

News CatastrophesInsurance

Crews fighting Kansas wildfires get assist from snow, rain

March 28, 2016 The Associated Press

KANSAS CITY, Mo. – Firefighters grappling with the biggest wildfire in Kansas history got a welcomed Easter assist from pre-dawn snowfall over the hardest-hit area, though the looming prospect of flame-fanning winds threatened to undermine the effort. The National Weather