Damage becoming clear amid historic New Brunswick flood
May 8, 2018 Kevin Bissett - THE CANADIAN PRESSSAINT JOHN, N.B. – For 48 years, Jerry McFarland’s rustic cottage on New Brunswick’s Grand Lake was a cherished refuge for family and friends, where precious summertime memories were carefully recorded in well-worn journals. Today, McFarland’s cottage is in ruins,…
Claims, Interrupted
May 8, 2018 Shane Swinson, SVP, insurance portfolio, FirstOnSite RestorationWhy a new breed of storms paves a new course for claims managers
Storm surge coverage now available for first time
May 7, 2018 by Jason ContantThe Co-operators announced Monday that homeowners in British Columbia and Nova Scotia can now be insured for storm surge damage, calling the coverage the first and only of its kind in Canada. Storm surges are waves caused by storms and…
Ontario ice storm estimated to cost insurers up to $164 million
May 6, 2018 by Greg MeckbachThe historic ice storm in Ontario and Quebec in mid-April could cost the insurance industry more than $150 million in damage claims, Verisk Analytics Inc.’s Property Claim Services unit reported Thursday. PCS’s preliminary estimate of a catastrophe event April 14-16…
Officials warning B.C. flooding this year may be worse due to 2017 wildfires
May 3, 2018 The Canadian PressWILLIAMS LAKE, B.C. – Emergency officials in British Columbia’s southern Interior warn that devastating wildfires that charred thousands of square kilometres of timber and bush last year now have the potential to make seasonal flooding even more severe. The warning…
New Brunswick floods: ‘This could get very uncomfortable,’ officials warn
May 2, 2018 Kevin Bissett - THE CANADIAN PRESSSAINT JOHN, N.B. – People were being urged to evacuate their homes Wednesday as rising floodwaters threatened to surpass record-setting water levels in areas along the Saint John River, with one fire chief warning residents: “This could get very uncomfortable.”…
Flooding grows along Saint John River in New Brunswick
May 1, 2018 THE CANADIAN PRESSFREDERICTON – Floodwaters were expanding their reach Tuesday and washing through several communities along the Saint John River, stranding residents, soaking basements and making islands out of homes. “I see nothing but water,” Earl LeBlanc, a 76-year-old widower, said from…
Why open reinsurance markets are best for Canada
April 30, 2018 by Greg MeckbachWith the lion’s share of Canadian insurers’ reinsurance coming from outside of Canada, protectionism in the insurance space would not be good for consumers, a lawyer told Canadian Underwriter last week. Some nations – including Thailand, India, China – have…
Early April storm in Ontario, Quebec causes $85 million in insured damage
April 30, 2018 by Jason ContantA windstorm in early April is estimated to have cost insurers more than $85 million, mostly from home insurance claims in Ontario, according to Catastrophe Indices and Quantification Inc. (CatIQ). The April 4-5 storm brought severe rain and freezing rain,…
New Brunswick latest province to see rising flood threat
April 26, 2018 The Canadian PressFREDERICTON – Waters are rising in New Brunswick, and officials are warning residents to move their belongings to higher ground. New Brunswick’s Emergency Measures Organization says the St. John River is expected to reach flood stage this week in many…
Windsor tremor shows quake risk exists anywhere in Canada
April 23, 2018 by Greg MeckbachEarthquakes do hit southern Ontario from time to time but the area hit last week has a low risk of experiencing property damage arising from earthquakes, an Insurance Bureau of Canada official told Canadian Underwriter. Natural Resources Canada reported that…
Ontario ice storm catches the eye of global reinsurance brokerage
April 20, 2018 by Greg MeckbachSevere weather earlier this week in Ontario has caught the attention of reinsurance providers. Impact Forecasting LLC, a unit of reinsurance brokerage Aon Benfield, noted Friday that winter weather starting April 13 “left considerable damage across southern sections of Canada’s…