How Chuckegg Creek Wildfire could affect Canadian insurers
May 23, 2019 by Greg MeckbachThe wildfire affecting northern Alberta is much larger than the one that devastated Slave Lake in 2011 but property losses seemed minimal on Thursday afternoon. “At this point we are hearing there are no major structures that have been lost,”…
School bus accident on highway injures 12
May 23, 2019 THE CANADIAN PRESSEDMONTON -Twelve people, including 11 children, were taken to hospital Thursday after a school bus crash on one of Edmonton’s busiest freeways. Emergency officials said the collision happened at about 8:15 a.m. on Whitemud Drive near the Quesnell Bridge over…
This province’s statute of limitations ‘cries out for reform’
May 21, 2019 by Greg MeckbachIn trying to sue construction contractors for a leaky building, a Winnipeg hospital is actually criticizing Manitoba’s Limitation of Actions Act, a provincial appeal court judge suggested in a recent ruling. In 2003, construction finished on a new five-storey building…
Paid IoT Solutions and Claims Reductions
May 17, 2019 Eddy SolutionsAt just after 10 am on an average Thursday morning, a 20-floor apartment building in downtown Toronto experienced a leak in their riser stack between the 5th and 6th floor. The leak was detected by an IoT sensor system, which…
Provinces asking feds for $138 million to help buy out flooded properties
May 16, 2019 Jordan Press - THE CANADIAN PRESSOTTAWA – Flood-ravaged provinces are asking the federal government to provide almost $138 million to move or buy out homeowners affected by previous years’ inundations, according to new data that gives a glimpse into the national costs of helping residents…
The challenges of assessing seasonal home damage
May 13, 2019 by Adam MalikDespite being told flooding in Ontario’s Cottage Country back in 2013 was one-in-100-years event, area businesses and residents are cleaning up from a second and more widespread flooding incident in less than a decade. Climate is playing a key role…
CU Total Loss Series: Where are the bottlenecks?
May 13, 2019 by David GambrillTotal Loss Series, Part 2: Bottlenecks Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing total…
How much will the eastern Canada flooding cost?
May 10, 2019 by Jason ContantTotal economic losses from the recent flooding in Ontario, Quebec and New Brunswick are expected minimally to reach into the hundreds of millions of dollars (U.S.), Aon’s latest catastrophe report said. The flooding event has already been declared a catastrophe…
Waters to rise again in Ottawa area, even as N.B. turns to flood recovery mode
May 10, 2019 THE CANADIAN PRESSWater levels are expected to rise again this weekend between Ottawa and Montreal, even as New Brunswick’s floods are effectively over. Officials warned late Thursday that “significant” rainfall is expected to raise water levels in the Ottawa/Gatineau area down to…
What’s closed in Victoria after commercial fire
May 9, 2019 THE CANADIAN PRESSVICTORIA, B.C. – Days after flames tore through a vacant hotel in Victoria, one man is still missing and smoke lingers, forcing the closure of city hall and several other businesses. The fire in the former Victoria Plaza Hotel has…
Will a robot take your insurance job? Probably.
May 9, 2019 by Jason ContantBored of the same-old, same-old? Why not sharpen your pencil and take that dream job as an actuary? According to the Will Robots Take My Job? website, there is only a 21% chance that actuaries will be replaced by artificial…
How kitty litter can impact insured property losses
May 8, 2019 by Greg MeckbachWhile spring rains and thawing have caused overland flooding of Biblical proportions, drain backups are also the bane of some insurers’ existence. In multi-storey commercial and residential buildings, drain backups are the number one cause of damage, said Adam Bartman,…