Wildfires ravage 30-45% of structures in B.C. community
August 8, 2018 The Canadian PressVANCOUVER – Wildfires have ravaged 27 structures in Telegraph Creek, representing 30 to 45 per cent of buildings in the small northwestern British Columbia community, officials say. Tahltan Band Chief Rick McLean said in a video posted to Facebook on…
What Canada’s P&C industry has learned from catastrophes
July 31, 2018 by David GambrillEach catastrophe presents a unique learning opportunity for today’s risk and insurance professional; over time, savvy risk experts will use these broad-scale “teachable moments” to better prepare their clients and employers to be more resilient in the future. Canadian Underwriter…
Will the Maritimes be insurable if climate change left unchecked?
July 29, 2018 by Jason ContantThe financial costs of flooding in the Maritimes could increase dramatically by the end of the century under a “business-as-usual climate scenario,” even without accounting for changes people have made to the environment that could increase exposure, according to a…
How to bring adult children back into the family brokerage
July 25, 2018 by Jason ContantFor brokerages considering succession planning, allowing the next generation to “find their own path in the world and then successfully boomerang back into roles in the family business is critical to the future” of the business, according to a new…
Canadian P&C industry enters “hybrid cloud” phase
July 24, 2018 by David GambrillCanadian P&C insurance companies have entered a transitional technology phase that will see data from their legacy systems get transferred online. “We are in a hybrid-cloud paradigm,” Frank Attaie, vice president of cloud and software at IBM Canada, told Canadian…
New risks arising from Canadian arctic shipping
July 17, 2018 by Greg MeckbachAs shrinking arctic ice opens up of new shipping routes through Canada’s Arctic Archipelago, this presents challenges for risk managers and insurers, Allianz Global Corporate and Specialty suggests in a report scheduled for release Wednesday. “Arctic ice has been thinning and…
How this top-tier Canadian brokerage plans to double its revenue in 5 years
July 11, 2018 by David GambrillNavacord Inc., Canada’s fifth-largest insurance brokerage by premium volume, has entered into an agreement that will see a management-led buyout of its minority capital partner, Fairfax Financial Holdings Ltd., with the support of Madison Dearborn Partners (MDP), a leading private…
Chemical spills from 1960s cost property owner $2 million
July 11, 2018 by Greg MeckbachAn Ottawa drycleaner has to pay a neighbouring property owner nearly $2 million because of environmental contamination that happened more than 40 years ago. Eddy Huang, who owns properties on Bank Street north of the Billings Bridge, sued drycleaner Fraser…
Restoration Myth-Busting – Three-day drying Part 2
July 11, 2018 Kris Rzesnoski, vice-president, business development, EncircleIn the last article we talked about three-day drying as a myth that is not supported by the restoration industry. We also discussed the change in science from the 2000s to today and how it has opened insurers to expanded…
Tropical Storm Chris could make landfall on Newfoundland
July 10, 2018 by Greg MeckbachNewfoundland’s Avalon Peninsula could get wind gusts of up to 100 km/h this week as a result of Tropical Storm Chris, which is expected to be upgraded to hurricane status Tuesday. Tropical Storm Chris was in the Atlantic Ocean more…
A northern light
July 10, 2018 Emily Atkins, EditorRocca Claims aims to attract talent to Ontario’s north
Tropical Storm Chris tracks towards Nova Scotia
July 9, 2018 by Greg MeckbachStorm weather arising from a hurricane could hit Nova Scotia Wednesday night, with a low but not zero probability of hurricane-force winds hitting Canada’s east coast. Tropical Storm Chris is expected to start moving northeast and reach hurricane status Tuesday,…