Claims

How wildfires are affecting some of Canada’s largest P&C insurers

Despite facing a heavy loss year and an unusually active wildfire season, four of Canada’s publicly traded P&C companies — Intact Financial Corporation, Fairfax Financial Holdings, Definity Financial Corporation and Trisura Group Ltd. — reported positive underwriting profits thus far, according to commentary from DBRS Morningstar.  Overall, the insurance companies reported positive net earnings for […]

By Alyssa DiSabatino | August 22, 2023

2 min read

Almost 60 buildings lost to wildfire in Kelowna, B.C., area, fire chiefs say

A West Kelowna man says he is still in shock after the wildfire tearing through the region burned down his condo and forced him and his eight-months-pregnant wife to evacuate twice in one night. Randy Miskuski said his family had to evacuate from their condo at the Lake Okanagan Resort last Thursday as the McDougall […]

By Alyssa DiSabatino | August 22, 2023

6 min read

Update on Yellowknife wildfire

YELLOWKNIFE, N.W.T – Firefighters battling a wildfire near the capital of the Northwest Territories shifted from defence to offence Monday after a weekend of cooler temperatures, favourable winds and some rain. “We’re in a position to move to direct attack on that fire,” N.W.T. fire information officer Mike Westwick said Monday. Until now, firefighters had […]

By David Gambrill | August 21, 2023

3 min read

What P&C industry can expect from Kelowna wildfires

In an eerie coincidence, almost 20 years to the day wildfires caused $200 million in insured damage back in 2003, Kelowna is burning once again. About 30,000 people in the southern Interior region of B.C. — about a third of them from the Kelowna area – are currently under evacuation orders, CBC reported Monday. Insurance […]

By David Gambrill | August 21, 2023

3 min read