Widespread flooding is possible following a major earthquake in B.C., a flood researcher warns. Typically, earthquakes are known to give rise to fires, tsunamis and liquefaction (when the earth turns to liquid) following an earthquake. All of these perils can be excluded from earthquake policy coverage. But flood could also be an issue, says Jenny […]
By David Gambrill | June 14, 2024
3 min read
Cross border businesses face growth slowdowns and a fight for their long-term sustainability, says a new report from KPMG International. The audit and accounting firm’s Top risks forecast: Bottom lines for business in 2024 and beyond cites three critical risks likely to impact companies’ company operations this year and beyond: Sectors at risk KPMG’s […]
By Phil | June 13, 2024
3 min read
Damage from aftershocks, a common consequence of large earthquakes, may not be covered under quake policies, depending on how the policy defines an ‘event.’ Tiegen Hobbes, a research scientist at Natural Resources Canada, made the point while talking about quake aftershocks at the Insurance Broker Association of B.C.’s 2024 AGM and Leader’s Conference last Thursday. […]
By David Gambrill | June 13, 2024
3 min read
The Quebec government estimates the number of homes located in flood zones could triple in the province when new flood maps are released. The province’s environment minister discussed the figures today as he announced a public consultation on a proposal to modernize flood management rules. Under the new framework, the number of residences located in […]
By Jason Contant | June 13, 2024
3 min read
High deductibles attached to B.C. earthquake insurance coverage are at the point now where brokers are seeking alternative ways to bring the deductibles down for their consumers. One idea floated at the Insurance Brokers Association of B.C.’s 2024 AGM and Leader’s Conference Thursday is to strip the cost of a home’s contents out of the […]
By David Gambrill | June 10, 2024
4 min read
TORONTO – A four-alarm fire ripped through St. Anne’s Anglican Church in Toronto on Sunday morning, severely damaging a national historic site and destroying the “priceless” Group of Seven murals inside. Fire officials said the blaze broke out shortly before 8 a.m., fuelling spires of smoke and shooting flames through the domed roof of the […]
By Jason Contant | June 10, 2024
3 min read
The Institute for Catastrophic Loss Reduction (ICLR) and the Canadian Home Builders’ Association (CHBA) have teamed up to create a task force to advance resilient home construction. The Resilient Homes Task Force (RHTF) will conduct pilot field trials with builders using homes in various locations across Canada. They will test four specific natural hazard contexts: […]
By Jason Contant | June 10, 2024
3 min read
OTTAWA – Meghan Fandrich’s voice shook as she recalled grabbing her five-year-old daughter and fleeing their home as flames descended on the village of Lytton, B.C., in 2021. Darryl Tedjuk was quiet as he related the reality that his hamlet of Tuktoyaktuk in Northwest Territories was slowly being washed away by the Beaufort Sea. The […]
By Jason Contant | June 7, 2024
5 min read
About 90% of wildfire damage in B.C. is preventable, a FireSmart B.C. representative told the province’s brokers attending the Insurance Brokers Association of B.C.’s 2024 AGM and Leader’s Conference Thursday. Brokers can help reduce losses by showing clients how to prevent stray embers from setting homes and properties ablaze. “There are two things I want […]
By David Gambrill | June 7, 2024
4 min read
CRANBROOK, B.C. – Canadian federal, provincial and territorial forest ministers have signed on to a national strategy that they say aims to raise awareness of wildfire risks across the country. B.C. Forests Minister Bruce Ralston, chair of the Canadian Council of Forest Ministers, says the wildland fire prevention and mitigation strategy is a “call to […]
By Jason Contant | June 6, 2024
1 min read