NatCat Navigations: 2024 insured NatCat losses could reach $9 billion by end of year, says ICLR executive
Toronto, Ontario — According to recent reports, Canada’s property and casualty insurance industry is set to pay close to $9 billion in natural catastrophe (NatCat) losses by the end of the year. As noted by Canadian Underwriter on its webinar, ‘Canada in a de-globalized world,’ which occurred last Thursday: “thus far, the official tally in […]
On the Rise: Summer 2024 severe weather results in 228,000 claims; a 406 percent increase compared to previous 20-year average, says IBC
Toronto, Ontario — Canada’s home, auto and business insurers are reporting the most challenging summer on record for damage from weather events and natural disasters, according to the Insurance Bureau of Canada (IBC). Four major catastrophes were contributing to approximately 228,000 insurance claims this past summer, says IBC: flooding in Toronto and southern Ontario; the […]
Flash-Flooding Fees: Severe summer storms in Ontario cause over $340 million in insured damages
Toronto, Ontario – According to early estimates from Catastrophe Indices and Quantification Inc. (CatIQ), as referenced by the IBC, the severe storms and flash-flooding that hit parts of Southern Ontario over the summer have resulted in over $340 million in insured losses. Of this total amount, over $80 million—or close to 25 percent—went towards replacing […]
Holding Pattern: N.S. autobody shops to see wave of flood-damaged vehicles later in week
(Photo by Kelvin Campbell) Halifax, Nova Scotia — This past weekend saw a torrent of rain hit Nova Scotia, bringing with it flooding in some areas and a wave of damaged vehicles due for local bodyshops throughout the week. The storm started on Friday and dumped about three months worth of rain over the first […]
Storm’s A’brewin: ICBC calls for drivers to prepare as atmospheric river rains forecasted for next week
Victoria, British Columbia — British Columbia body shops be prepared, as weather forecasts for this coming week are calling for the return of atmospheric river rains in the southern tip of the province, meaning that flood-damaged vehicles are likely on the menu for repairers for the foreseeable future. Many British Columbians became intimately acquainted with […]
Preparation is Key: Manitoba reports few collisions despite ongoing snow storm
Winnipeg, Manitoba — Manitoban drivers gave the rest of Canada a crash course in not ending up on a crash course, as officials reported that calls for emergency assistance were uncharacteristically low despite this week’s blizzard. News that 25 centimetres of snow is on the way for mid-April can be hard to accept, but drivers […]
Toyota Task Force: Toyota 4×4 Facebook group praised for aiding in snow storm relief
Toronto, Ontario — A new cult is giving Jeep owners a run for their money, as Toyota Canada announced that more than 100 Toyota 4×4 drivers on Vancouver Island came out to give rides to health care workers left stranded by a snow storm. When the island was hit with an uncommonly severe snowfall in […]
Blown Away: Ontario’s Dec. windstorm damage more than $150 million, IBC says
Toronto, Ontario — Numbers have started rolling in tallying up the destruction caused by the windstorm that blew through Quebec and eastern Ontario in December with the Insurance Bureau of Canada (IBC) reporting more than $152 million in insured damage. The IBC broke down the damage regionally, reporting more than $100 million in Ontario, more […]
A Show of Merritt: Lordco’s Merritt, B.C. store gives back to flood relief effort
Maple Ridge, British Columbia — The flooding that swept through British Columbia’s interior affected the Canadian auto community in many ways, but perhaps none so profoundly as Lordco Auto Parts’ Merritt, B.C. store. The rain began on Nov. 13, causing severe flooding throughout much of the province’s southern mainland and prompting some communities to declare […]
Future-Proofing: B.C. atmospheric rivers caused estimated $450 million in insured damage
Vancouver, British Columbia — Experts are putting the damage incurred from past weeks’ atmospheric river weather in British Columbia around the $450 million mark, according to preliminary estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The weather event that began on Nov. 13 and lasted over two weeks is expected to be the most costly […]
