Hurricane Michael on course toward Nova Scotia
October 11, 2018 The Canadian PressMichael roared toward the Florida panhandle as a Category 4 hurricane Wednesday, with long-range forecasts predicting its remnants could dump heavy rains on Nova Scotia if it passes south of the province as expected. The brutish storm has grown swiftly…
Simple disaster preparation rules that commercial clients forget
September 13, 2018 by Greg MeckbachThough it pays to be tech-savvy, one way commercial clients can manage risk is to learn to do without the Internet and payment card networks, a disaster restoration professional advises. In the event of a major storm, businesses need to…
Will Hurricane Florence affect reinsurance rates in Canada?
September 12, 2018 by Jason ContantAs the southeastern United States braces for Hurricane Florence – one year after Hurricanes Harvey, Irma and Maria caused widespread destruction in the country – the question of whether there is sufficient reinsurance capacity is again thrust into the spotlight.…
This storm preparation tip is a myth
September 12, 2018 by Greg MeckbachAs Newfoundland gets hit by the remnants of Tropical Storm Gordon and Hurricane Florence threatens the Carolinas, brokers can make a difference in advising homeowners what not to do as nasty weather approaches. “In Canada, there are not many hurricane-type…
The exclusion that no longer applies to this home insurance coverage
August 28, 2018 by Greg MeckbachFifteen years after Nova Scotia was hit by Hurricane Juan, a Canadian home insurer is offering storm surge coverage in all four Atlantic Canada provinces. Storm surge is a rise in sea level resulting from atmospheric pressure changes and wind…
What Canada’s P&C industry has learned from catastrophes
July 31, 2018 by David GambrillEach catastrophe presents a unique learning opportunity for today’s risk and insurance professional; over time, savvy risk experts will use these broad-scale “teachable moments” to better prepare their clients and employers to be more resilient in the future. Canadian Underwriter…
Cyber catastrophe bonds: Coming soon?
July 13, 2018 by Greg MeckbachWith computer security incidents causing business interruption and privacy breaches, there is a “very real possibility” that a catastrophe bond covering cyber risk might be available, the head of a cyber risk modelling vendor predicts. Catastrophe bonds are a form…
Tropical Storm Chris could make landfall on Newfoundland
July 10, 2018 by Greg MeckbachNewfoundland’s Avalon Peninsula could get wind gusts of up to 100 km/h this week as a result of Tropical Storm Chris, which is expected to be upgraded to hurricane status Tuesday. Tropical Storm Chris was in the Atlantic Ocean more…
Tropical Storm Chris tracks towards Nova Scotia
July 9, 2018 by Greg MeckbachStorm weather arising from a hurricane could hit Nova Scotia Wednesday night, with a low but not zero probability of hurricane-force winds hitting Canada’s east coast. Tropical Storm Chris is expected to start moving northeast and reach hurricane status Tuesday,…
Canada’s best province for flood risk management
June 20, 2018 by Greg MeckbachFive years after Albertans lost billions as a result of record floods, Ontario leads the nation when it comes to keeping properties out of high-risk areas, a catastrophe loss expert contends. “Ontario has been most aggressive at trying to make…
More hurricanes, or just better detection?
June 7, 2018 by Jason ContantIs the number of Canadian hurricanes getting larger, or are we just better at detecting them? Bob Robichaud, warning preparedness meteorologist with the Canadian Hurricane Centre (CHC), raised the question during a webinar on the Institute for Catastrophic Loss Reduction…
Does Canada have the adjusting resources to handle back-to-back catastrophes?
June 6, 2018 by Jason ContantDoes Canada’s property and casualty industry have enough resources in place to adjust major catastrophes that occur in tandem or right on the heels of each other? Industry resources in Ontario were tested after a severe ice storm in April,…