How this year’s CAT losses are trending
July 3, 2019 by Adam MalikCanada is well on its way to cracking the $1-billion threshold in insured catastrophe losses yet again as we enter the second half of 2019. Catastrophe Indices and Quantification (CatIQ) told Canadian Underwriter Wednesday that the estimated catastrophic insured loss…
What the industry paid out for severe weather in 2018
January 17, 2019 by Greg MeckbachThe 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.…
Marketplace should set minimum standards for flood cover: CEO
December 12, 2017 David Gambrill, Editor-in-ChiefMinimum standards should be established for overland flood coverage offered by Canadian property and casualty insurers, an industry executive told Canadian Underwriter. Offering his personal perspective, Alain Thibault, chairman, president and CEO of the Canadian Association of Direct Relationship Insurers…
Wildfire has ‘very very different pattern’ of impacted areas: CatIQ Catastrophe Conference speaker
February 8, 2017 Greg Meckbach, Associate EditorWhen determining accumulation of risk, wildfire presents an “additional complexity” for insurers and reinsurers, a speaker suggested at a recent conference. “Wildfire is a really complex peril,” said Manuel Chirouze, managing director, natural hazards and geoscience for the Americas at…
Nearly $3.6 billion in insured losses from Fort McMurray wildfire: CatIQ
July 7, 2016 by Canadian UnderwriterInsured damage from the recent wildfire affecting Fort McMurray, Alta. is estimated at $3.58 billion, Insurance Bureau of Canada’s vice president western and Pacific, Bill Adams, said Thursday. A third of the $3.58 billion loss is commercial property, 5% is…