What a Canadian public earthquake backstop might look like
January 31, 2023 by David GambrillA federal government backstop designed to help private insurers cover high-risk flooding could be extended to protect Canadians from earthquake risk as well, Canada’s home, car and business insurers suggested in a release Tuesday. Meanwhile, in the absence of a…
Canada’s most exposed insurance lines
May 31, 2022 by Jason ContantExposure related to insuring personal lines of business in general continues to see steady growth in the Canadian P&C insurance industry, with a whopping $9.3 trillion of personal property assets in Canada now insured against fire, according to Catastrophe Indices…
What can be done just seconds before an earthquake hits?
December 7, 2021 by Jason ContantNatural Resources Canada (NRC) is developing an earthquake early warning system that will provide valuable time before an earthquake strikes to allow protective measures to be put in place for people and critical infrastructure. “It can provide anywhere between seconds…
Too little, too late? The devastating consequences of natural disasters must inform building codes
November 10, 2021 The Canadian PressBy Anastasia Athanasiou, Postdoctoral fellow, Civil and Environmental Engineering, Concordia University This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site.…
Contrary to popular belief, Eastern Canada is more at risk of earthquakes than perceived
September 16, 2021 The Canadian PressBy Jeremy Rimando, Postdoctoral Research Fellow, Structural Geology and Tectonics, McMaster University and Alexander Lewis Peace, Assistant Professor (Structural Geology), McMaster University – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news,…
Fracking likely to create stronger, more common earthquakes in B.C., study says
May 26, 2021 Bob Weber - THE CANADIAN PRESSMore damaging earthquakes can be expected more often in northern British Columbia as fracking oil and gas wells increases pressure underground, says newly published research. “It makes earthquakes more common and it makes larger ones more common,” said Allan Chapman,…
How to increase the take-up of earthquake insurance
February 18, 2021 by Jason ContantWhen broader government assistance is available for earthquake insurance, the take-up rates for private earthquake insurance appear to be suppressed, according to a new study on the difference between earthquake insurance rates in B.C.’s Lower Mainland and neighbouring Washington State…
How Ottawa is trying to lower earthquake related property losses
December 7, 2020 by Greg MeckbachNatural Resources Canada is hoping to help insurers cut their loss costs with a yet-to-be released earthquake early warning system. The warning system could provide seconds to tens of seconds of warning before a location is affected by strong shaking,…
How B.C. adjusters are preparing for major earthquake
July 29, 2020 by Greg MeckbachWhen the next huge earthquake hits British Columbia, some independent adjusting firms may temporarily re-locate offices inland, perhaps even as far east as Alberta. Kernaghan Adjusters is aiming to be “up and running fairly quickly if we get into an…
Adjuster reacts to B.C. earthquake
July 24, 2020 by Greg MeckbachThe earthquake earlier this week off the coast of Vancouver Island does not seem to have caused any insured property losses, but the industry is nonetheless encouraging all British Columbians to be prepared in any case for a large disaster.…
Separate quakes hit off B.C. and Alaska, but cause no damage, tsunami
July 22, 2020 THE CANADIAN PRESSVANCOUVER – A moderate earthquake has occurred off northwest Vancouver Island but emergency officials in British Columbia say it has not produced a tsunami. Earthquakes Canada says the magnitude 5.4 quake struck at 4:33 a.m. and was centred 285 kilometres…
The thinking behind IBAC’s ‘light-hearted’ flood and earthquake education campaign
February 13, 2020 by Greg MeckbachWhile the Insurance Brokers Association of Canada (IBAC) is encouraging homeowners to contact brokers about earthquake and overland flood risk, it is not aiming to shock or scare the living daylights out of consumers. “We consciously chose not to use…