Fire in the Okanagan forces evacuation

A recent wild fire ravaging an Okanagan sagebrush field just a few 100 metres away from Oliver city, B.C., has forced many residents to flea their homes. The fire quickly grew to 500 hectares before air tankers began to fight the flames.Most recently, the fire covered approximately 60 hectares.The fire is now moving up a […]

By Canadian Underwriter | August 10, 2005 | Last updated on October 2, 2024
1 min read

A recent wild fire ravaging an Okanagan sagebrush field just a few 100 metres away from Oliver city, B.C., has forced many residents to flea their homes. The fire quickly grew to 500 hectares before air tankers began to fight the flames.Most recently, the fire covered approximately 60 hectares.The fire is now moving up a mountain away from the town, but there is a chance that wind may change its direction.

Canadian Underwriter

Calgary hailstorm ranks Canada’s 2nd-worst NatCat of all time

Claims

Calgary hailstorm ranks Canada’s 2nd-worst NatCat of all time

Calgary’s hailstorm in early August caused nearly $2.8 billion in insured damage, eclipsing the previous record for a single hailstorm ($1.2 billion) set in 2020. “This hailstorm is the second-costliest event in Canada’s history, following the 2016 Fort McMurray wildfire,” Insurance Bureau of Canada said in a release, citing data from Catastrophe Indices and Quantification […]

By David Gambrill | September 11, 2024

4 min read

Why insurers won their dispute over a $50-million excess policy

Claims

Why insurers won their dispute over a $50-million excess policy

An insured is not entitled to coverage on a “claims made and reported” excess liability policy when it failed to report the claim to the excess insurer within the policy period, Ontario’s Appeal Court has confirmed. The insured, a law firm, argued it was entitled to professional liability coverage despite “imperfect compliance” with the claim […]

By David Gambrill | September 18, 2024

4 min read

Captain Obvious: Premiums will rise after 2024’s loss year

Claims

Captain Obvious: Premiums will rise after 2024’s loss year

If one consequence of insurers paying out $7.6 billion in claims damage for severe weather events isn’t obvious enough, P&C insurance industry professionals are spelling it out: consumers can expect to see their property premiums increase sometime in the near future.  “I’m happy to be in an industry that’s trying to actually meet the consumer’s […]

By Alyssa DiSabatino | September 20, 2024

3 min read