Flood risk guidance for commercial brokers coming soon
January 25, 2019 by Greg MeckbachA standard on flood resiliency for commercial real estate could be coming out this year. The Intact Centre for Climate Adaptation is working on a document intended to help commercial insurance brokers and real estate companies reduce flood risk for…
Heavy rains, wind cause flash flooding and evacuations in Sussex, N.B.
January 25, 2019 The Canadian PressSUSSEX, N.B. – Dozens of people had to be evacuated from almost 30 homes late Thursday because of flash flooding in riverfront areas around Sussex, N.B., in the wake of torrential rains and strong winds. The Canadian Red Cross said…
Insurer involvement urged in the building code process
January 24, 2019 by Jason ContantThe Institute for Catastrophic Loss Reduction (ICLR) and Insurance Bureau of Canada (IBC) want to restore direct insurance industry involvement in the building code process. “At some point in the distant past, perhaps four decades ago or more, the Canadian…
Flooding in New Brunswick results from winter storm
January 21, 2019 Kevin Bissett - THE CANADIAN PRESSA powerful winter storm that brought heavy rain and snow to much of Eastern and Central Canada closed schools, flooded streets, knocked out power and forced school buses to stay off the roads in many areas Monday as temperatures began…
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.…
Number of homes uninsurable for flood risk growing: study
January 17, 2019 The Canadian PressA coast-to-coast study finds Canadians aren’t keeping up with the need to protect their homes against catastrophic events made more common by climate change. The study from the University of Waterloo points out that insurance claims from weather-driven problems like…
Why CBI insurance is on the rise in Canada
January 16, 2019 by Jason ContantContingent business interruption (CBI) insurance is on the rise in Canada, with an increase in both demand and higher limits, says the CEO and chief agent for Allianz Global Corporate & Specialty (AGCS) Canada. “This is one of the most…
How flood risk will change in Northern Canada
January 16, 2019 Bob Weber - THE CANADIAN PRESSThe impact of climate change on roads and other crucial structures in Canada’s North is likely to be even greater than feared, says new detailed research. “These are greater impacts than anything I’m aware of,” said John Pomeroy, head of…
New, revised CAIB expected by fall
January 10, 2019 by Jason ContantThe Insurance Brokers Association of Canada (IBAC) is hoping to be able to present a new, revised Canadian Accredited Insurance Broker (CAIB) program to the broker community by this fall. The new content will address 10 broad broker competency areas…
These two provinces now have storm surge and overland flood coverage
January 7, 2019 by Jason ContantHomeowners in Quebec now have storm surge coverage available, while homeowners in Manitoba are covered for overland flood damage, The Co-operators said Monday. Storm surge, which includes rising water levels and waves caused by storms, presents a significant flood risk,…
Flood watches in British Columbia result from heavy rain
January 4, 2019 THE CANADIAN PRESSVANCOUVER – Rainfall, wind, snow and winter storm warnings have been lifted for all of southern B.C. after a powerful system swept across the province leaving flooded or snow-clogged roads in its wake. On Vancouver Island, torrential downpours forced flood…
CoreLogic takeover of Symbility approved by shareholders
December 14, 2018 by Greg MeckbachCanadian claims software vendor Symbility Solutions Inc. is a step closer to being acquired by data provider CoreLogic Inc. Calgary-based Symbility said Thursday an overwhelming majority of its shareholders have approved a $160-million deal originally announced Oct. 22. The deal…