insurance

Buildings are seen in floodwater following a major rain event in Halifax on Saturday, July 22, 2023. THE CANADIAN PRESS/Darren Calabrese

Extreme weather risk changing Canada’s insurance industry, raising costs

Unusually high premium hikes happening in the West and parts of Atlantic Canada

 

A plane is silhouetted as it takes off from Vancouver International Airport in Richmond, B.C., Monday, May 13, 2019. Trip cancellation insurance covers you or other passengers in your family who are ill and can’t fly, as well as a variety of other unlikely-but-expensive possibilities. THE CANADIAN PRESS/Jonathan Hayward

What you need to know to decide if trip cancellation insurance is worth the cost

‘Understand your policy and understand the type of trip you’re taking’

 

Water is pumped out from a flooded home near the Bonaparte River as sandbags line a sidewalk in Cache Creek, B.C., on May 14, 2023. THE CANADIAN PRESS/Darryl Dyck

Spring flood risks highlight lack of insurance for Canadian homeowners: experts

Severe weather caused $3.1B in insured damage in Canada in 2022, with hurricane Fiona costing $800M

 

February 22 2023 - Luke Mills and Laura Bolster photographed in their Megson Fitzpatrick offices on Redbrick Street for Boulevard Business Class story. Don Denton photography.

“Change is the only constant”

Laura Bolster and Luke Mills embrace the dynamic winds of change at Megson FitzPatrick

  • May 1, 2023
February 22 2023 - Luke Mills and Laura Bolster photographed in their Megson Fitzpatrick offices on Redbrick Street for Boulevard Business Class story. Don Denton photography.
Heavy machinery clears washed-up buildings and rubble in the harbour in Burnt Island, Newfoundland and Labrador, on Tuesday, Sept. 27, 2022. An initial estimate by Catastrophe Indices and Quantification Inc. suggests hurricane Fiona did $660 million in insured damage. THE CANADIAN PRESS/Frank Gunn

Hurricane Fiona most costly extreme weather event ever recorded in Atlantic Canada

Estimate puts the storm’s insured damages at $660 million

Heavy machinery clears washed-up buildings and rubble in the harbour in Burnt Island, Newfoundland and Labrador, on Tuesday, Sept. 27, 2022. An initial estimate by Catastrophe Indices and Quantification Inc. suggests hurricane Fiona did $660 million in insured damage. THE CANADIAN PRESS/Frank Gunn
Tara Hartshorne touches a photograph of her daughter Chloe Des Rochers at a memorial at the corner of Ford and Nevin roads in Chilliwack on Sept. 20, 2022. Des Rochers was on a skateboard when she was struck and killed by a pickup truck driver at the interesection on Aug. 1, 2022. (Paul Henderson/ Chilliwack Progress)

Family of B.C. teenager killed by driver sees next to nothing thanks to ICBC’s no-fault insurance

‘The no-fault scheme is so unfair that the government was scared to tell the public what it is’ – lawyer

Tara Hartshorne touches a photograph of her daughter Chloe Des Rochers at a memorial at the corner of Ford and Nevin roads in Chilliwack on Sept. 20, 2022. Des Rochers was on a skateboard when she was struck and killed by a pickup truck driver at the interesection on Aug. 1, 2022. (Paul Henderson/ Chilliwack Progress)
Arborists work to clear fallen trees and downed wires from damage caused by post-tropical storm Fiona in Halifax on Saturday, September 24, 2022. THE CANADIAN PRESS/Darren Calabrese

Hurricane Fiona highlights gaps in insurance as climate change worsens, experts say

Flood policies don’t normally cover damages from storm surges, which are difficult to model

Arborists work to clear fallen trees and downed wires from damage caused by post-tropical storm Fiona in Halifax on Saturday, September 24, 2022. THE CANADIAN PRESS/Darren Calabrese
Floodwaters are seen from the air in Abbotsford, B.C., on Nov. 23, 2021. November’s floods in British Columbia that swamped homes and farms, swept away roads and bridges and killed five people are now the mostly costly weather event in provincial history. THE CANADIAN PRESS/Jonathan Hayward

Flood of atmospheric rivers in B.C. cost $675 million in insured damage: bureau

Increase over previous estimate due to business claims where commercial insurance is more available

Floodwaters are seen from the air in Abbotsford, B.C., on Nov. 23, 2021. November’s floods in British Columbia that swamped homes and farms, swept away roads and bridges and killed five people are now the mostly costly weather event in provincial history. THE CANADIAN PRESS/Jonathan Hayward
Debris from receding flood waters is pictured along a road as heavy rains form an atmospheric river continue in Abbotsford, B.C., Nov. 30. (THE CANADIAN PRESS/Jonathan Hayward)

B.C.’s flooding was ‘most costly’ severe weather event ever for province: insurance experts

Insurance Bureau of Canada estimates $450 million in insured damage from recent flooding

Debris from receding flood waters is pictured along a road as heavy rains form an atmospheric river continue in Abbotsford, B.C., Nov. 30. (THE CANADIAN PRESS/Jonathan Hayward)