May 19, 2021
A storm that moved across eastern Canada from March 26-29 brought heavy rain and strong winds, causing C$50 million (US$41.5 million) in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Damage reports spanned the region …
May 6, 2021
OTTAWA – 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. …
April 9, 2020
Insurance Bureau of Canada (IBC), an industry association for Canada’s home, auto and business insurers, on Wednesday said its members would lower costs for auto insurance to reflect reduced driving during the COVID-19 pandemic. Its members, which make up 90% …
October 7, 2019
Hurricane Dorian hit Atlantic Canada on Sept. 7 causing more than C$105 million (US$78.9 million) in insured damage, said Insurance Bureau of Canada, quoting the Catastrophe Indices and Quantification Inc. (CatIQ).* The IBC noted that 70% of this amount is …
June 1, 2018
April showers bring May flowers but in Ontario, the last few months brought a series of severe, and unique, weather events. Insured damage from an early-May windstorm affecting Ontario and parts of Quebec topped $410 million – with $380 million …
July 18, 2017
A severe storm that swept through central Alberta during the third week of June has resulted in more than C$30 million (US$23.7 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted a report from Catastrophe …
April 27, 2017
A windstorm that hit eastern Newfoundland on March 11, 2017 has resulted in almost C$45 million (US$32.5 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting statistics from Catastrophe Indices and Quantification Inc. (CatIQ). Wind gusts …
April 19, 2017
A windstorm that hit parts of southern Ontario on March 8, 2017 has caused almost C$100 million (US$73.4 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted a report from Catastrophe Indices and Quantification Inc. …
January 6, 2017
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 …
November 22, 2016
A massive earthquake off the coast of British Columbia has the potential to cause widespread failure among insurance companies and trigger a domino effect across the financial sector, according to a Conference Board of Canada report. “As the earthquake in …