Lessons from the field in Fort Mac
March 15, 2018 Kris Rzesnoski, vice-president, business development, EncircleOn May 3, 2016 a massive wildfire swept through the remote Alberta community of Fort McMurray, necessitating the largest wildfire evacuation in Canadian history, with upwards of 88,000 people fleeing their homes. May 3rd was a turning point as well…
Climate change and its effect on insurance claims
December 15, 2017 Neville BussellThe wildfire insurance losses incurred in Fort McMurray, Alberta in 2016 are the costliest in Canadian history. The fire involved residential property, businesses, municipal property and landscape over an area of 590,000 hectares. The Insurance Bureau of Canada Costs estimated…
Gross written premiums up 9.7% for Northbridge
August 8, 2017 by Canadian UnderwriterNorthbridge Insurance had a 0.3-point in its second-quarter combined ratio, from 100% last year to 99.7% this year, while OdysseyRe’s combined ratio improved 3.9 points, the insurers’ parent firm, Fairfax Financial Holdings Ltd., reported recently. Toronto-based Northbridge Insurance had an…
Fort McMurray wildfire rebuild gaining momentum as hurdles cleared
April 30, 2017 Ian Bickis - THE CANADIAN PRESSCALGARY _ A long-delayed building boom in Fort McMurray is ramping up as homeowners, insurers, contractors, and officials in the Alberta city clear hurdles that hindered reconstruction after the devastating wildfire last May. While many residents and businesses had hoped…
Personal lines cat ratio up 9.3 points at Intact due in part to Fort McMurray
February 8, 2017 by Canadian UnderwriterIntact Financial Corp. released Wednesday its financial results for 2016, reporting a 5% increase in direct premiums written and a 40% drop in underwriting income during a year when Canada’s most expensive natural disaster cost the firm $400 million before…
How to Be Ready for Make or Break Claim Moments
December 8, 2016 Dara Banga, president, DSB ClaimsLast May, someone in remote Alberta started a wildfire that swept through Fort McMurray, took out the power grid, destroyed more than 2,000 homes, traveled 590,000 hectares to Saskatchewan, halted regional oil production, and raged for roughly three months before…
New reinsurer view of Canada may be forming, likely to influence pricing
September 30, 2016 Angela Stelmakowich, EditorVANCOUVER – The higher frequency of billion-dollar-plus natural catastrophe events in Canada contributes to the global reinsurance community viewing the country differently and pricing will need to change to reflect risk, Mark Cloutier, group CEO for Brit Insurance Ltd., said…
Cleaning Up After the Beast
September 2, 2016 Emily Atkins, EditorA hail of glowing embers bounces off the hood of the pickup creeping in gridlocked traffic. Headlights can’t penetrate the billows of greasy smoke swirling in a hot, heavy wind. As the camera pans, pine trees barely a car-length away…
Insurance claims & expenses up 15% for TD
August 25, 2016 by Canadian UnderwriterThe wildfire in May that resulted in the evacuation of Fort McMurray Alberta is one factor in the 15% year-over-year increase in insurance claims and related expenses for the Toronto Dominion Bank. TD released Thursday its financial results for the…
Message from the President
August 5, 2016 Fred Plant, President, Canadian Independent Adjusters' AssociationFred Plant, President, President of the Canadian Independent Adjusters’ Association, comments on insurance claims arising from the wildfire in and near Fort McMurray, Alberta
La Plume du Président
August 5, 2016 Fred Plant, president, ACEIOui, cela a bien eu lieu. Nous savions qu’il en serait ainsi. Tout le monde le savait. Ce n’était qu’une question de temps. Une catastrophe vraiment terrible. Fort McMurray a été ravagé par les flammes. Au moment de la rédaction…
Adjusting Fort McMurray’s Firestorm
July 15, 2016 Heather SandersonBusiness Interruption & Civil Authority Coverage Issues with the Fort McMurray, Alberta wildfire