Claims

Environment Canada working to confirm possible weekend tornado over Vancouver

VANCOUVER – Environment Canada is examining all available evidence as meteorologists try to confirm if a rare and powerful tornado touched down Saturday on Vancouver’s west side.   The weather office confirms a tornado was spotted over the Strait of Georgia just west of the Vancouver International Airport at about 5 p.m. on Nov. 6.   […]

By Jason Contant | November 8, 2021

1 min read

Three reasons Fairfax predicts a continuing hard market

As carriers continue taking a good hard look at their risk appetites, price increases could continue well into 2022. “We expect market conditions to remain strong throughout 2021 and well into 2022,” said Peter Clarke, chief operating officer of Toronto-based Fairfax Financial Holdings Ltd., during an earnings call Friday morning. “The main drivers of the […]

By Greg Meckbach | November 5, 2021

2 min read

Homeowners loss ratio drops to 49.1% for this Top 10 insurer

Canada’s sixth-largest property and casualty insurer has a loss ratio in home insurance of under 50% so far this year, but large losses in Western Canada had an adverse impact on the quarter ending Sept. 30. The Co-operators General Insurance Company reported Oct. 28 a 9.7-point increase in its loss ratio, from 53% in Q3 […]

By Greg Meckbach | November 3, 2021

2 min read

Ontario’s September storms cause insured damage of $105 million

Severe storms in early and late September caused $105 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The Sept. 7 storms included heavy rain, wind and tornadoes that caused structural damage to many properties, Insurance Bureau of Canada (IBC) said in a press release Monday. And 30,000 properties […]

By Phil | October 29, 2021

1 min read