Editor’s note: This is the first of a two-part series on the biomechanics of rider falls from e-scooters. Part 2 will appear next week. Canada’s capital is in the midst of its fourth electric scooter (or e-scooter) pilot program. These electrified versions of children’s kick scooters have become increasingly popular with adults as a […]
By Phil | August 25, 2023
3 min read
So-called “secondary perils” are now of primary concern for insurers, and the P&C industry needs to change its language and focus accordingly, Moody’s RMS says. Secondary perils include insured damage losses caused by natural catastrophes such as wildfires, hail or convective storms. Whether occurring by themselves, or triggered by primary perils such as hurricanes or […]
By David Gambrill | August 25, 2023
3 min read
As wildfires rage across Canada, wineries might struggle to keep smoke from tainting their crops. Such was the case for wineries operating in and around southern Oregon in 2020, said Heidi Moore, insurance agent for U.S-based Country Financial and host of the Wine Crush podcast. The 2020 wildfire season was one of the most destructive […]
By Alyssa DiSabatino | August 25, 2023
2 min read
Inflation, and more specifically efforts by Canada’s central bank and its peers worldwide to curb its impacts, has given something of a boost to property and casualty (P&C) insurers’ balance sheets. Specifically, higher interest rates have expanded fixed income investment opportunities for insurers and increased potential yields, said a recent commentary from DBRS Morningstar. That […]
By Phil | August 24, 2023
3 min read
A flood and rainstorm event that hit Nova Scotia in July is estimated to have caused over $170 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The atmospheric river event dropped more than 250 millimetres of rain in a 24-hour span on Halifax, Nova Scotia’s South Shore, and central […]
By Alyssa DiSabatino | August 24, 2023
3 min read
If Canadian P&C insurers thought the Cat reinsurance market was tough this year, just wait until next year. “Global reinsurers are cutting back on the cover they provide against medium-sized natural catastrophe risks due to investor pressure after several years of large catastrophe losses and improved profitability in other parts of the market,” Fitch Ratings […]
By David Gambrill | August 24, 2023
3 min read
Firefighters in British Columbia’s southern Interior continue to battle a number of major blazes, having been aided by ample rainfall that fell Wednesday over the Okanagan and Shuswap regions. B.C. Wildfire Service information officer Forrest Tower says one weather station near the eastern edge of the Bush Creek East wildfire near Chase received about 20 […]
By Alyssa DiSabatino | August 24, 2023
1 min read
Canadian Collision repair shops and their insurance partners should be investing in training and education to safely repair defective or damaged electrical vehicle (EV) batteries over the next three to five years, attendees heard at Collision Repair magazine’s EV Repair Tour event held in Milton, Ont., Wednesday. Canada’s federal government wants 100% of new vehicle […]
By David Gambrill | August 23, 2023
4 min read
Canadian insurers could see between $700 million and $1.5 billion in insured losses from this summer’s wildfire season, DBRS Morningstar predicts in new commentary. Despite the high loss figures, the claims incurred in 2023 Q3’s wildfire season will be manageable for insurers, DBRS writes. However, wildfire season is not yet over, and some of […]
By Alyssa DiSabatino | August 23, 2023
3 min read
YELLOWKNIFE — The mayor of Yellowknife says it’s not safe for residents to go home to the territorial capital, but notes city officials are working on a return plan as a fire continues to burn about 15 kilometres away. Most of the residents in the city of 20,000 evacuated by air or road late last […]
By Alyssa DiSabatino | August 23, 2023
2 min read