Humans required to train AI to assess images for damage losses
August 22, 2018 by Greg MeckbachClaims adjusters could soon have part of their work replaced by software that looks at photos and decides whether property is damaged, but there is still a need for humans in the process, one researcher predicts. When properties are damaged…
Beleaguered industry faces prospect of more flood damage in Ontario
August 21, 2018 by David GambrillMost of Ontario is under a severe weather warning Tuesday, once again threatening flood damage in a province where insurers have already paid approximately $800 million for natural catastrophe damages. This cumulative total for the year in Ontario does not…
How much this province’s “historic” flooding will cost the industry
August 14, 2018 by Jason ContantSpring flooding in New Brunswick may have been “historic” and “record-setting,” but it didn’t meet the $25-million threshold of a catastrophe event. Catastrophe Indices and Quantification (CatIQ) told Canadian Underwriter Monday the flooding was a “notable event,” meaning it caused…
One trillion litres of sewage leaked into Canadian lakes and rivers over last five years
August 13, 2018 Mia Rabson - THE CANADIAN PRESSOTTAWA – Last Wednesday, a team of people from the Lake Ontario Waterkeeper environmental group descended on the Toronto harbourfront looking for any signs the previous night’s massive, flash-flood rainfall had caused the city’s ancient combined sewer system to overflow…
New Brunswick receives federal aid following spring flooding
August 2, 2018 The Canadian PressFREDERICTON – New Brunswick is getting $39 million from Ottawa as it continues to recover from this spring’s historic floods. The province says the federal money will help cover response and recovery costs. In a news release, Deputy Premier Stephen…
Woman drowns after small, intense storm floods basement
July 31, 2018 Colleen Slevin and Kathleen Foody - THE ASSOCIATED PRESSENGLEWOOD, Colo. – Rachael Haber only intended to stay a few minutes when she stopped by the basement apartment of a travelling friend to check on her pet cat. While she was there Tuesday, a small but intense storm hit…
One Ontario industry vulnerable to weather extremes
July 30, 2018 by Greg MeckbachIf your client is in the food production or distribution field, you might want to consider the impact of extreme weather. “Restaurants do not prioritize purchasing backup generators, or flood or business interruption insurance,” a report presented last week to…
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 much it cost the industry when baseball-sized hail hit western Canada
July 23, 2018 by Jason ContantA severe storm that affected parts of Saskatchewan and Manitoba in mid-June resulted in more than $90 million in insured damage, according to data released by Catastrophe Indices and Quantification Inc. (CatIQ). Strong winds and large hail – in some…
After leak causes $3-million damage to dream home, plumbing contractor loses bid to block insurer’s subrogation
July 19, 2018 by David GambrillA plumbing contractor facing a subrogation lawsuit from a homeowner’s insurer is not eligible for coverage under the homeowner’s purchased Residential Builders–All Risks [RBAR] insurance policy, an Ontario court has ruled. Joseph and Lidia Maio had their dream home built…
Where premiums actually went down in Canada
July 17, 2018 by Jason ContantAverage premiums for personal auto in Atlantic Canada decreased for the second consecutive quarter, according to Applied Systems’ latest quarterly rating index. On the other side of the country, in British Columbia, average personal property premiums also decreased for the…
How a $395 gadget can prevent a $43,000 flood claim
July 16, 2018 by David GambrillAmid a wave of sump pumps, backwater valves and other methods designed to keep home basements dry comes a new, simple way to mitigate flood risk – an e-sensor. George Tsintzouras, CEO and co-founder of Canadian water tech company Alert…