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Which insured perils are of most concern to your clients?

December 5, 2022 by David Gambrill

Winter storms and severe rain or flooding events top the list of insured perils concerning Canadians, according to a new Angus Reid poll commissioned by First Onsite Property Restoration. Nationally, concern about winter storms (67%) edged out worries about severe

raindrops falling on the street
News BrokersClaimsClimate ChangeInsuranceMarkets / CoveragesRisk

Flood policy education: What brokers are up against

November 30, 2022 by David Gambrill

Half of Canadian homeowners have not purchased additional coverage for water damage, relying on a standard homeowner policy that does not cover risk of overland flood or water seepage into the home. Endorsements are available to extend coverage for water

Concept of drought and flooding
News Insurance

How much severe weather will cost the Canadian economy by 2050

August 29, 2022 by Jason Contant

Floods, storms and droughts could result in a total loss of CAD$139 billion to Canada’s gross domestic product (GDP) between now and 2050, new research found. Total direct losses from 2022 to 2050 are expected to reach $88 billion in

Noon sun in the sky
News Insurance

More B.C. heat records fall, conditions prompt flood watch

July 28, 2022 by Jason Contant

VANCOUVER – Temperature records are melting across British Columbia as a prolonged heat spell grips the province but Emergency Management BC says it is not anticipating an extreme heat emergency. A statement from the agency says residents should monitor temperature

Flooded Calgary Stampede grandstand
News Insurance

Should Canada’s flood insurance program combine NFIP and Flood Re?

June 29, 2022 by Jason Contant

Canada could benefit from a flood protection program combining the features of the U.S. National Flood Insurance Program (NFIP) and U.K.’s Flood Re, says credit rating agency DBRS Morningstar, but that view is not entirely shared by Insurance Bureau of

The North Thompson River in Kamloops, B.C.
News Insurance

Rain, impending heat wave prompt warning and raise flood potential in B.C.

June 22, 2022 The Canadian Press

VANCOUVER – Environment Canada says the first hot spell of the year is about to settle over much of British Columbia, bringing temperatures in the low to mid-30s until at least early next week. Special weather statements now cover the

Workers sandbag around a restaurant in Calgary in anticipation of heavy rainfall
News Insurance

Why recent Calgary storm is not like 2013 flooding

June 16, 2022 by Jason Contant

Although home to many of the costliest natural disasters in Canada, Alberta appears to have dodged a bullet with the latest rainfall event in the Calgary area. The City of Calgary declared a local state of emergency earlier this week

Collapsed sections of bridges following flooding in B.C.
News Insurance

Flood of atmospheric rivers in B.C. cost $675 million in insured damage: CatIQ

June 16, 2022 The Canadian Press

VANCOUVER – November’s floods in British Columbia that swamped homes and farms, swept away roads and bridges and killed five people are now the most costly weather event in provincial history. The Insurance Bureau of Canada made the statement as

Flood and black smoke from a fire in Abbotsford
News Insurance

P&C industry must get better at modelling secondary perils: reinsurance exec

June 13, 2022 by Jason Contant

The property and casualty insurance industry in Canada and globally needs to improve its modelling and understanding of secondary perils, which have seen increased frequency over the past decade, says a speaker from Swiss Re during an industry event. “We

The burned-out remains of businesses and properties destroyed by the Lytton wildfire
News Insurance

Rebuild of Lytton, B.C., after devastating wildfire to begin by September: minister

June 13, 2022 Sarah Ritchie - THE CANADIAN PRESS

OTTAWA – Rebuilding in the fire-ravaged village of Lytton, B.C., is likely to begin in September, according to the province’s minister of public safety. That would be 15 months after an out-of-control wildfire swept through and burned 90 per cent

Flood in a house with furniture floating
News ClaimsInsuranceLegal

Vacancy permit doesn’t require daily attendance for eight months during repairs

June 10, 2022 by David Gambrill

Belair does not have to pay a condo claimant more than $1,500 in daily mileage costs accrued over almost eight months, during which time flood damage in the insured’s unit was being repaired. Belair Insurance Company insured a condominium owned

Skeena River in northern British Columbia
News Insurance

Evacuations, local state of emergency in northwest B.C. as flood risk rises

June 6, 2022 The Canadian Press

VANCOUVER – Evacuation orders have been issued for three small communities in northwestern British Columbia as the flood risk rises across the region. Residents of the Terrace-area communities of Old Remo, New Remo and Usk were ordered out of their