More than 35 years after a deadly tornado in Barrie, Ont. – the site of another strong tornado last year – the industry is still looking for modernizations to the Ontario Building Code and tornado protection construction practices. “Since before…
Human-altered stream flows, such as dams, canals or areas of heavy urbanization, are at a greater risk of flooding, new research finds. And this could potentially impact flood risk ratings, P&C industry experts say. A study by researchers at the…
Canadian consumers are still foggy about the purpose and content of their home, auto and business insurance, and the onus is on the industry to help them understand, a pair of industry executives said during a recent webinar. Discussions with…
Huge insurance bills for natural disasters such as fire following earthquake could be substantially reduced by paying for improvements that amount to a fraction of the damage estimates. But timing is everything when recommending how to “build back better,” says…
The COVID-19 pandemic made it difficult at times for insurers to work through natural catastrophes, said a Wawanesa executive during a recent web conference. But they’ve learned a few lessons because of it. As Cats stormed through Alberta to the…
To view Canadian Underwriter’s full webinar series, please fill in the following information for immediate access: Webinar Access Name* First Last Email* Zip/Postal Code* Phone*Organization* Job Title* What is the business of the organization you work for?*Choose One…Independent Insurance BrokerageInsurance…
Alberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come…
Old infrastructure and combined sewer systems mean that severe thunderstorms like the one seen last week will continue to leave basements flooded for years to come, leaving insurers and claims professionals busy, according to an industry expert. “When you get…
Toronto is drying out from another sudden thunderstorm, but claims professionals may have dodged an even bigger workload thanks to the storm quickly moving out. “We’ve seen worse,” Glenn McGillivray, managing director at the Institute for Catastrophic Loss Reduction (ICLR),…
Most home insurance clients don’t know they could be covered for identity theft, Top Broker Summit attendees heard Monday. “On the personal lines side, there have been a number of companies in Canada that have offered identity theft coverage for…
Enough talk about wildfire risk has taken place, says Zurich Canada’s risk boss. Now there needs to be real action around building a national strategy on wildfires. It’s been three years since the wildfires in Fort McMurray, Alta., for which…
The tornadoes that struck the Ottawa-Gatineau area on Sept. 21 cost the industry $300 million in insured damage, the Insurance Bureau of Canada (IBC) said Wednesday. Of that, $200 million was for insured damage on the Ontario side, and $100…