RIMS Canada Conference 2007 - Exhibit Hall

Beat the clock: Update on the national flood program

Editor’s Note: This article has been updated to show remarks incorrectly attributed to IBC’s president and CEO Celyeste Power were actually the remarks of IBC chairman Christian Fournier. CU apologizes for the error. Provincial politics and the timing of a federal election could possibly delay or derail the proposed national flood insurance program if […]

By David Gambrill | September 25, 2024

4 min read

Claims

Why Calgary’s hailstorm could send more Alberta auto insurers to the exits

Calgary’s record-setting hailstorm in August may send more of the province’s auto insurers heading for the exits, Insurance Bureau of Canada warned Thursday. “The Calgary hailstorm will add $900 million in unexpected claims cost pressures at a time when Alberta’s auto insurance system is in crisis due to the province’s rate cap,” Aaron Sutherland, IBC’s […]

By David Gambrill | September 19, 2024

3 min read

Claims

Quebec flooding raises 2024 NatCat losses to $7.6 billion

Flooding after Tropical Storm Debby passed through Montreal and nearby regions of Quebec in August caused $2.5 billion in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The Aug. 9 and 10 catastrophe now ranks as the costliest insured event in Quebec’s history, says Insurance Bureau of Canada. “The record-breaking […]

By Alyssa DiSabatino | September 13, 2024

2 min read