Claims
Quebec has the highest historical average annual loss (AAL) for flood faced by any region across the country, at $861.3 million, but Yukon’s average annual loss per residential address (RA) stands at $925, well above Quebec’s $229 loss per residence. These figures are based on historical data presented during a Flood Task Force Update […]
By Alyssa DiSabatino | June 10, 2022
2 min read
After undergoing actuarial review, two possible flood insurance models are the “most promising” for private-public engagement within the upcoming national flood insurance program, a federal government official suggests. One model is based on a pool for high-risk homeowners, among other components; the second is inspired in part by the Flood Re model in the […]
By Alyssa DiSabatino | June 9, 2022
3 min read
A caregiving daughter is not entitled to coverage under her mother’s auto policy because she does not "reside" with her Mom: court.
By David Gambrill | June 9, 2022
VICTORIA – Firefighters in British Columbia will soon have access to information to help identify neighbourhoods where the risk of home fires is greatest in an effort to prevent more needless deaths, says the province’s fire commissioner. The commissioner’s office will partner with Statistics Canada this summer to create an interactive tool that provides statistical […]
By Jason Contant | June 9, 2022
Court decision speaks to the importance of attaching dispute resolution forms to clear benefits denial letters.
By David Gambrill | June 8, 2022
When a storm hits, it’s no surprise that extreme wind can be a significant driver of insured losses — but wind may actually edge out water as the industry’s costliest weather event, said one industry expert. “From 2008 to last year, if you look at windstorm over that period of time [it] edges out […]
By Alyssa DiSabatino | June 8, 2022
Aviva Canada is piloting an eco-friendly claims process, part of its plan to become a net-zero company by 2040. Notably, the company is mobilizing its efforts to respond to climate change by recycling and sorting materials during the claims process. Following the catastrophic flooding in B.C. in late fall last year, for example, Aviva launched […]
By Alyssa DiSabatino | June 7, 2022
Can Canada avoid a bout of stagflation that the World Bank predicts will engulf much of the world?
By Phil | June 7, 2022
If the ongoing flooding in Manitoba and the Ontario/Quebec derecho storm of last month taught us anything, it’s that we must change how we think about natural disasters, argue the Institute for Catastrophic Loss Reduction’s Glenn McGillivray, and PhD candidate Korey Pasch, in an op-ed for the Globe and Mail.
By Alyssa DiSabatino | June 6, 2022
VANCOUVER – Evacuation orders have been issued for three small communities in northwestern British Columbia as the flood risk rises across the region. Residents of the Terrace-area communities of Old Remo, New Remo and Usk were ordered out of their homes Sunday evening and told to register at a community centre just east of Terrace. […]
By Jason Contant | June 6, 2022
1 min read
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