Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Climate Change Causes 379% Hike in Insured Damages in Canada Over 10 Years: Report
Oct 17 2024 // The annual average insurable losses in the last decade increased in Canada by a whopping 379%, when compared to the prior 30-year average, according to an analysis from MyChoice, a Toronto-based insurtech company. The...
Canada’s Axis Insurance Acquires P/C Broker Baker Insurance
Sep 27 2024 // Axis Insurance Managers Inc., the Vancouver, Canada-based insurance broker, announced the acquisition of Baker Insurance, a property/casualty brokerage based in Calgary. Financial details of the deal were not...
Canada’s Axis Insurance Acquires Employee Benefits Specialist O’Neill Group
Sep 25 2024 // Axis Insurance Managers Inc., the Vancouver, Canada-based insurance broker, announced it has acquired the O’Neill Group, one of British Columbia’s premier employee group benefits, life insurance, and wealth...
Extreme Canada Weather Causes Record $5.7 Billion Insured Damage
Sep 24 2024 // An onslaught of four natural disasters caused C$7.1 billion ($5.3 billion) of insured losses across Canada in just two months — more than any other summer on record. In July and August, a ballistic hailstorm tore through...
Canada’s Insurance Czar Has ‘Harsh’ Message About Climate: You May Have to Move
Sep 24 2024 // The soaring cost and difficulty of insuring against climate risks may force people to relocate, the head of Canada’s main financial regulator warned. Rising damages from extreme weather don’t seem to be a...
Canada Relaxes Some Mortgage Insurance Rules to Tackle Housing Crisis
Sep 18 2024 // Canadian Finance Minister Chrystia Freeland on Monday announced changes to some mortgage rules as part of an effort to make housing more affordable, a critical political issue that has hurt Prime Minister Justin Trudeau...
Canada’s Wildfire Season Ranks Among Worst but Less Severe Than Feared
Sep 12 2024 // With summer drawing to a close in Canada, the 2024 wildfire season is shaping up as one of the most destructive on record, largely due to the devastation caused by a blaze that ripped through a tourist town in the Canadian...
People Moves: Melvin Names CEO of BMS Re US; Rawal Joins AXA XL as CUO Middle Market, Canada; QBE Canada Hires Fenn as Multinational Underwriting Manager
Sep 10 2024 // Melvin Appointed President and CEO, BMS Re, US Brad Melvin BMS Re, the specialty reinsurance arm of global broker BMS Group headquartered in New York City, appointed Brad Melvin president and chief executive officer, BMS...
Markets/Coverages: PURE Heads to Canada to Cover HNW Homes
Sep 10 2024 // Privilege Underwriters Reciprocal Exchange (PURE) is for the first time going international with an expansion into Canada. The reciprocal exchange will start serving high net worth clients in Ontario with homeowners...
‘Sustainable’ Logging Operations Are Clear-Cutting Canada’s Climate-Fighting Forests
Sep 9 2024 // With its vast expanses of forest, Canada has the most “certified” sustainable timber operations of any nation, according to the nonprofit organizations that attest to the environmental soundness of logging...
Ex-CFO Says Royal Bank of Canada Manufactured Workplace-Romance Case
Sep 6 2024 // Royal Bank of Canada’s former chief financial officer, fired over allegations she had an undisclosed personal relationship with another executive, said the bank was trying to “manufacture” a reason to get...
Claims From 4 Summer Weather Events in Canada Exceed Prior Year Total: IBC
Sep 6 2024 // Four natural catastrophes over four weeks during Canada’s summer season have resulted in about five times the amount of claims than the 20-year average, reported the Insurance Bureau of Canada. About 228,000 home,...
Canada’s 10 Worst Natural Disasters Totaled C$30 Billion in Annual Insured Losses
Sep 3 2024 // Insured losses have surged in the past decade as climate change in Canada sparks wildfires, intense hailstorms and thunderstorms with severe flooding in major cities. Insured losses from natural disasters averaged C$2.2...
Canada’s Insurance Sector Faces Deluge of Climate-Related Catastrophe Claims
Sep 3 2024 // Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and...
Insured Losses From Canada’s Jasper Wildfire Surpass C$880 Million
Aug 28 2024 // This summer’s devastating wildfire in Jasper, Canada resulted in more than C$880 million (US$653.4 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting data provided by Catastrophe...
Why the Canadian Freight Rail Halt Will Roil North American Supply Chains
Aug 22 2024 // Canada’s two main freight rail companies locked out around 10,000 of their Canadian unionized workers early on Thursday, starting an unprecedented simultaneous work stoppage that will grind almost all railway freight...
Wildfire in Jasper National Park Could Burn for Months, Canadian Official Says
Jul 29 2024 // JASPER, Alberta (AP) — A wildfire that has destroyed hundreds of structures in the town of Jasper is the largest blaze recorded in Jasper National Park in a century and could still be burning months from now, a Parks...
Devastating Wildfire Burns Down Almost 50% of Western Canadian Tourist Town
Jul 26 2024 // A raging wildfire has devastated the western Canadian tourist town of Jasper, potentially destroying up to 50% of structures, and firefighters were trying Thursday to save as many buildings as possible, authorities...
Canadian Wildfires Threaten Oil Output, Prompt Evacuations
Jul 24 2024 // Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak...
Air Canada Hit by Court Ruling After Ex-Maintenance Workers Sue
Jul 17 2024 // Air Canada may be forced to pay at least C$100 million ($73.2 million) to about 2,200 former workers after a Quebec court issued a ruling in their class-action lawsuit against the airline. The amount would cover lost...
