Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
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...
Wildfires Encircle Canada’s Oil-Sands City Amid Hot Weather
Jul 12 2024 // A ring of wildfires has erupted around Canada’s unofficial oil-sands capital of Fort McMurray, adding new threats to crude production from the world’s third-largest petroleum reserves. Eight out-of-control...
Canada Insurers Investing in Fossil Fuels as Climate Risks Grow: Shareholder Group
Jul 10 2024 // Canada’s top property and casualty insurers have invested more than C$19.5 billion ($14.30 billion) in fossil fuels production at a time when climate change is driving up risks for the industry, according to a report...
People Moves: HDI Global Canada Promotes Navarrete to Managing Director; AXA XL Appoints Kuklinski as Regional Mgr. for Northern Europe, Germany’s Country Mgr.
Jul 1 2024 // This edition of International People Moves details appointments at HDI Global and AXA XL. A summary of these new hires follows here. HDI Global Canada Promotes Navarrete to Managing Director Klaus Navarrete HDI Global...
Cyber Extortion Reached Record High in US and Canada in 2023: Marsh
Jul 1 2024 // Multiple companies in the United States and Canada experienced a record number of cyber extortion events in 2023 and unprecedented demands, a new report from Marsh shows. The report, Ransomware: A persistent challenge in...
Eastern Canada Wildfire Forces Evacuation of Hydro Plant Workers
Jun 26 2024 // A wildfire in an eastern Canadian province moved closer to a huge power plant on Tuesday, forcing the evacuation of workers from a nearby town, officials said. “So (this is) very concerning,” Newfoundland and...
Marsh: Cyber Extortion Reached Record High in US and Canada in 2023
Jun 14 2024 // Multiple companies in the U.S. and Canada experienced a record number of cyber extortion events in 2023 and unprecedented demands, a new report from Marsh shows. The report, Ransomware: A persistent challenge in cyber...
Canada’s Largest School Board Targeted by Ransomware Attack
Jun 13 2024 // Canada’s largest school district is investigating a cyber incident, adding to a series of ransomware attacks that have caused disruptions to companies and public institutions in the country. The Toronto District...
Canadian Broker Axis Insurance Gets Investment From PE Firm, Lee Equity Partners
Jun 11 2024 // Axis Insurance Managers Inc., the Vancouver-based independent specialty insurance brokerage, announced it has received a significant growth investment from Lee Equity Partners LLC, a middle market private equity firm that...
Canadian Billionaire Prem Watsa to Step Down as Chairman of Fairfax India
Jun 4 2024 // Fairfax India Holdings Corp. on Monday said Prem Watsa, popularly known as “Canada’s Warren Buffett,” will step down as the investment firm’s chairman. He will be replaced by his son Benjamin Watsa,...
Canada’s Desjardins Completes Purchase of Insurance Company of Prince Edward Island
Jun 3 2024 // Desjardins Group and The Insurance Company of Prince Edward Island (ICPEI) have confirmed that the transaction announced in March 2024 has closed. Financial details of the deal were not disclosed. With this acquisition,...
People Moves: BHSI Promotes Riley to Lead Casualty Biz in Canada as DeSouza Retires; Broker Insights Names Scott CEO, Succeeding Edmond Who Becomes President
May 24 2024 // This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI) and the software developer Broker Insights. BHSI Names Riley to Lead Casualty Business in Canada as DeSouza...
