WINNIPEG – Three First Nations in northern Manitoba have sent hundreds of vulnerable residents south because of wildfire smoke. The province says smoke from an out-of-control wildfire in northeastern Manitoba is creating issues in the Red Sucker Lake, Wasagamack and God’s Lake First Nations. Earl Simmons, the provincial wildfire service director, says the fire is […]
By Jason Contant | July 30, 2024
1 min read
The Jasper wildfires could cause up to $700 million in insured damages, with “extra claims” from business interruption, after preliminary estimates show approximately 30% of the structures in the Alberta resort town were destroyed. That would make the Jasper wildfires one of the most expensive in Canadian history, Morningstar DBRS said in a Friday […]
By Alyssa DiSabatino | July 29, 2024
3 min read
The wildfire situation in the Slocan Valley has gone from bad to worse as a cold front moving through the region brought high winds, fanning the flames and causing significant wildfire growth, a Southeast Fire Centre official stated Thursday night. In an online media availability session — hosted by the Regional District of Central Kootenay […]
By Alyssa DiSabatino | July 26, 2024
3 min read
MONTREAL – Environment Canada says at least one tornado is confirmed to have hit Quebec on Wednesday night and it appears two others also touched down on the province earlier in the day. A tornado formed on Montreal’s South Shore just before 8:15 p.m. and uprooted trees, overturned a semi-trailer truck and damaged other infrastructure, […]
By Jason Contant | July 25, 2024
2 min read
A scarcity of skilled labour, shortage of building materials and lack of adjuster capacity were all significant hurdles in the claims process following consecutive wildfire and flooding catastrophes in Nova Scotia last year, Insurance Bureau of Canada (IBC) says in a new report. Insured losses from the May-June 2023 Tantallon wildfire and July 2023 atmospheric […]
By Jason Contant | July 25, 2024
3 min read
The industry can expect “significant losses” after out-of-control wildfires reached the town of Jasper, Alberta last night. Stoked by extreme heat and strong winds, the blazes encroached on the Alpine tourist town Wednesday night, after multiple fires started earlier in the week. In a media update late Thursday afternoon, Alberta Premier Danielle Smith said between […]
By Alyssa DiSabatino | July 25, 2024
5 min read
There’s clear reason to be concerned about the stability of the auto insurance line in Canada, given first quarter results of 2024, the Property and Casualty Insurance Compensation Corporation (PACICC) says in a recent report. PACICC looked at the new IFRS 17 metric, Net Insurance Service Ratio (NISR). Similar to the old IFRS 4 loss […]
By Jason Contant | July 23, 2024
2 min read
EDMONTON – Multiple wildfires in Jasper National Park flared up with a vengeance late Monday night, forcing all park visitors along with the 4,700 residents of the Jasper townsite to flee west with little notice over mountain roads through darkness, soot, and ash. Photos and video shared on social media illuminated a midnight cavalcade of […]
By Jason Contant | July 23, 2024
3 min read
MONTREAL – Quebec provincial police have announced the seizure of more than 28 vehicles and thousands of dollars in the Montreal area this week as part of their fight against organized vehicle theft in the province. Police spokesperson Nicolas Scholtus says that following an investigation that began in March investigators searched buildings and vehicles in […]
By Jason Contant | July 22, 2024
1 min read
Canada’s insurance market ranks eighth in the world by total premium volume, according to a new study from the Swiss Re Institute. Total premium volumes for Canada were US$171 billion, up 2.8% from US$166 billion in 2022. Canada’s global market share in 2023 was 2.4%, consistent with 2022. The Swiss Re Institute estimates the Canadian […]
By Jason Contant | July 22, 2024
3 min read