Canada plans to focus its next budget on tackling climate change and its effects but the insurance industry, amid skyrocketing costs, is concerned the government will move too slowly on the key first step of mapping flood risks. Flood mapping …
Montreal-based Co-operators is offering storm surge insurance for homeowners in Quebec and Manitoba, which completes the company’s product rollout to Canadian homeowners from coast to coast. Co-operators described its comprehensive water insurance as the only product of its kind in …
The Co-operators Group Ltd. is offering storm surge insurance to homeowners in the provinces of Atlantic Canada: New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador. Most recently released in Nova Scotia, The Co-operators Comprehensive Water insurance is …
PERILS, the independent Zurich-based organization that provides industry catastrophe insurance data, has announced that it has entered a strategic alliance with Toronto-based Catastrophe Indices & Quantification Inc. (CatIQ) to provide industry loss data for Canada via the PERILS Industry Loss …
Insured damages from Canadian natural catastrophes during 2016 topped C$4.9 billion (US$3.7 billion) – smashing the previous annual record of C$3.2 billion (US$2.4 billion) set in 2013, according to the Insurance Bureau of Canada. “From the wildfires that swept through …
A tropical moisture system resulting from Hurricane Matthew swept through Atlantic Canada last month, resulting in more than $100 million in insured damage, according to Insurance Bureau of Canada (IBC), which quoted a report from Catastrophe Indices and Quantification Inc. …
The Canadian government needs to do more to mitigate climate disasters such as floods and wildfires, a top green watchdog said on Tuesday as the Alberta town of Fort McMurray struggled to recover from a huge inferno. Environment Commissioner Julie …
Impact Forecasting, Aon Benfield’s catastrophe model development team, has developed a fully probabilistic flood model for Canada to help insurers and reinsurers better underwrite and manage their riverine and off-flood plain exposures. The model was developed in response to devastating …
In its annual review of loss events in the past year, Munich Re emphasized the “exceptionally high losses from weather-related catastrophes in Europe and Supertyphoon Haiyan,” which, the report said, “dominated the overall picture of natural catastrophes in 2013. “Floods …
According to the latest Global Catastrophe Recap report from Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, the “strong thunderstorms” that “brought record rainfall to the greater Toronto metropolitan region,” resulted in “Canada’s second billion-dollar natural …
