What’s the likelihood of an EF5 tornado in Canada?
October 10, 2018 by Jason ContantFollowing the EF3 tornado that struck Dunrobin, Ont. on Sept. 21, should insurers worry about the potential for a powerful EF5 strike on a major population centre in Canada? Probably not. But they should be concerned about tornadic storms in…
Will Ottawa-Gatineau insured losses set a record for tornado damage?
September 28, 2018 by Jason ContantOfficial catastrophe estimates will not be ready for awhile following the tornadoes that struck the Ottawa and Gatineau areas Sept. 21, but it will definitely be a cat event, industry observers say. Catastrophe Indices and Quantification Inc. (CatIQ) defines a…
Claims whack-a-mole: what’s going on in property lines?
September 25, 2018 by David GambrillAs if mounting auto insurance losses aren’t enough, the industry now has a new emerging issue to worry about this year – an alarming spike in home and commercial property claims. Catastrophe losses and fire are among the chief culprits…
What made the Dunrobin tornado so unique
September 24, 2018 by Jason ContantOne tornado that struck the Dunrobin, Ont. area Friday was only the second EF3 twister to touch down in the province in September or later – and the first during this time period in 120 years, said Glenn McGillivray, managing…
Is Toronto’s latest storm a cat event?
September 12, 2018 by Jason ContantAlthough heavy rain soaked Torontonians during Monday’s morning rush hour, the storm won’t be a catastrophe event, insurance professionals told Canadian Underwriter. “As far as I’m concerned, the rainfall yesterday was a non-event from an insurance perspective,” Glenn McGillivray, managing…
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.…