Keyword
windstorm
Environment Canada warns B.C. coast to prepare for heavy winds, rain
September 25, 2023 by Jason ContantRain and a wind storm are expected for much of British Columbia’s coast, bringing gusts as strong as 110 kilometres per hour. Environment Canada warnings cover both northern and eastern Vancouver Island, as well as Victoria, portions of the Sunshine…
Intact reveals fourth quarter catastrophe loss estimate
January 12, 2023 by Alyssa DiSabatinoIntact’s Canadian segment experienced an estimated $77 million, pre-tax, in catastrophe losses during the last quarter of 2022, the company said in a report. That figure is below the previous year’s fourth quarter losses. The Canadian cat losses were mostly…
The insured damage cost of December’s windstorm in eastern Canada
January 13, 2022 by Alyssa DiSabatinoThe windstorm that swept across Ontario, Quebec and the Atlantic provinces between Dec. 11 and 14 caused more than $152 million in insured damage, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The eastern Canada windstorm brought strong…
Ontario wind storm costs the industry $87 million
December 15, 2020 by Jason ContantAdd $87 million to the more than $2.1 billion that the Canadian property and casualty insurance industry has paid out in claims thus far in 2020. An Ontario windstorm in November hit the Greater Toronto Area, the areas of Hamilton,…
What the industry learned from the costliest catastrophe of 2018
February 7, 2019 by Jason ContantThe sheer volume of claims following the windstorm that swept through southern Ontario and Quebec last May led to critical service disruptions, after so many consumers called at once to report their claims to their insurers. “I’m not sure people…
Contractors know their role: Restoration contracting firms speak out
July 3, 2018 by Jason ContantControversy has swirled around the property and casualty industry’s response to Ontario’s May 4 windstorm, with restoration contracting firms speaking out to Canadian Underwriter recently to confirm the proper role of contractors during the catastrophe event. Restoration contracting firms made…
What the May 4 windstorm can teach the industry about catastrophe modelling
June 13, 2018 by Jason ContantRare events like the May 4 windstorm that primarily affected southern Ontario often cause the most damage, but are also the most difficult to generalize in catastrophe modelling predictions, according to a Canadian weather forecasting and research firm. “While the…
May windstorm largest insured event in Ontario in five years: CatIQ
June 1, 2018 by Jason ContantThe early May windstorm that struck Ontario and parts of Quebec topped $410 million, the costliest insured event since the 2013 Toronto floods, Catastrophe Indices and Quantification Inc. (CatIQ) said Friday. The majority of the damage from the windstorm –…
Early April storm in Ontario, Quebec causes $85 million in insured damage
April 30, 2018 by Jason ContantA windstorm in early April is estimated to have cost insurers more than $85 million, mostly from home insurance claims in Ontario, according to Catastrophe Indices and Quantification Inc. (CatIQ). The April 4-5 storm brought severe rain and freezing rain,…
Tens of thousands without power in southern Ontario due to windstorm
April 4, 2018 The Canadian PressTORONTO – A powerful windstorm is sweeping through southern Ontario, knocking out power to tens of thousands of people and disrupting travel in the air and on the roads. Environment Canada has issued a wind warning for the region, saying…
PERILS discloses extratropical cyclone Zeus’ third loss estimate at 284 million euros
September 6, 2017 by Canadian UnderwriterPERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has disclosed a third loss estimate of 284 million euros for extratropical cyclone Zeus, which affected France on March 6 and 7. The revised estimate of the property insurance…
Property market loss estimate for Europe’s Cyclone Egon reaches 275 million euros: PERILS
July 13, 2017 by Canadian UnderwriterThe latest property insurance market loss estimate for extratropical cyclone Egon, which hit parts of France and Germany in mid-January, has increased to 275 million euros, Zurich-based PERILS reported on Wednesday. Representing the third of four estimates to be issued…