Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
As insurers face the challenges of legislative and regulatory compliance, there is an argument to be made that large insurers will be in a better position to meet these challenges. As a means of meeting the regulatory requirements they face…
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On December 11, the Institute for Catastrophic Loss Reduction (ICLR) rolled out its latest retrofit home to the media. The home in Burlington, Ontario was retrofitted to reduce the risk of basement flooding. ICLR chose Burlington because it was ground…
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Over the course of this year, a number of organisations in the London insurance market have publically committed to Lloyd’s Diversity and Inclusion Charter.
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On October 16, the CBC published an online article entitled ‘Severe weather increasing insurance deductibles.’ Just a few days later, a small media outlet reprinted the piece, but changed the headline to ‘Climate change increasing insurance deductibles.’ This change highlights…
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On October 10, ICLR held a Friday Forum workshop entitled ‘National Riverine Floodplain Mapping Framework and Advancements in Urban Overland Flood Risk Assessment’, which largely looked at the state of flood mapping in Canada. The workshop was lead by Tim…
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The scientific evidence is overwhelming that humans are changing the climate due to their unbridled use of fossil fuels. Yet despite the scientific consensus (and, yes, there is consensus), there are those that insist on denying that anthropogenic (i.e. human…
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The EF2 tornado that tore through Angus, Ontario June 17 damaged 102 recently built homes in the small community located just west of Barrie. Ten or 11 homes lost their roofs entirely. These homes will have to be razed and…
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In its Second Quarter 2014 update, Aon Benfield Securities reported that catastrophe bond issuance hit a record high US$ 4.5 billion – the most of any quarter in the history of the insurance-linked securities (ILS) market. The growth of the…
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The Court of Appeal for Ontario has reversed the Superior Court’s decision in Matheson v. Lewis, finding that the plaintiff farmer’s Honda ATV was an off-road vehicle that required automobile insurance at the time of the accident. In Matheson, the plaintiff farmer used his…
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Since the financial crisis in 2008, the insurance industry has seemed transfixed, even paralysed at times by regulation-anxiety. The dash to introduce Solvency II; an expensive sprint to a finish-line, ultimately stretched by the EU rule makers, led to some rancorous exchanges between insurance leaders and those setting the policy as the full implications of […]
From an insurance perspective, essentially all of the large-loss hail events recorded in Canada have occurred in Alberta. Indeed, the top three most expensive hailers on record took place in that province. Emergency Preparedness Canada’s website lists the September 7,…
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At this is being written, Western’s University’s Storm Damage Assessment Team is on the ground in Angus, Ontario working with Environment Canada (EC) to rate a tornado that ripped through town at about 5:20 p.m. on June 17. The team…
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Prior to the $700 million wildfire in Slave Lake, Alberta in May 2011, ICLR was on record warning the Canadian insurance industry of a $1 billion wildfire loss event in the country. And while $700 million isn’t $1 billion (even when…
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Last spring, a colleague and I had just wrapped up another day at a joint claims and underwriting audit in Hamilton, Bermuda. As we walked back to our hotel, we wondered aloud as to which emerging risk would next impact…
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