insurance

Severe weather and natural disasters caused more than $3 billion in insured damages for the second year in a row in 2023. The McDougall Creek wildfire burns on the mountainside above houses in West Kelowna, B.C., Friday, Aug. 18, 2023. THE CANADIAN PRESS/Darryl Dyck

B.C. wildfires burn big chunk of more than $3B in 2023 insurance claims

National insurance weather-related claim total last year was the 4th-highest on record

 

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

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
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.
Victoria tenant Glenn MacDonald with the pipe that burst and caused his home to flood. (Ella Matte photo for Black Press Media)

‘Frustrating’: Victoria renters hit by floods after pipes burst blame landlords

Victoria plumber says landlords often don’t know how to shut off water

  • Feb 3, 2023
Victoria tenant Glenn MacDonald with the pipe that burst and caused his home to flood. (Ella Matte photo for Black Press Media)
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
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
The Suncor oil sands facility seen from a helicopter near Fort McMurray, Alta., Tuesday, July 10, 2012. The insurance industry is grappling with whether to continue supporting fossil fuels in the face of the climate change threat. THE CANADIAN PRESS/Jeff McIntosh

Insurance industry seeks to limit fossil fuel exposure amid growing climate threat

Over three years, 23 companies have adopted policies that end or limit insurance for the coal industry

The Suncor oil sands facility seen from a helicopter near Fort McMurray, Alta., Tuesday, July 10, 2012. The insurance industry is grappling with whether to continue supporting fossil fuels in the face of the climate change threat. THE CANADIAN PRESS/Jeff McIntosh
The head offices of Caisse Desjardins are seen, Wednesday, February 24, 2021 in Montreal.THE CANADIAN PRESS/Ryan Remiorz

Desjardins drops disease-related liability, property damage coverage for some claims

Company said it will not cover them in the event they are sued for spreading a communicable disease

The head offices of Caisse Desjardins are seen, Wednesday, February 24, 2021 in Montreal.THE CANADIAN PRESS/Ryan Remiorz
A fire structure protection unit responds to a call in Campbell River. Mayors from smaller communities are voicing their need for more provincial funding to cope with the rising cost of fire services and equipment. Photo by Marc Kitteringham/Campbell River Mirror.

Small town Vancouver Island feeling burned by high cost of fire protection

Rural mayors asking the province for help with the rising cost of equipment and training

A fire structure protection unit responds to a call in Campbell River. Mayors from smaller communities are voicing their need for more provincial funding to cope with the rising cost of fire services and equipment. Photo by Marc Kitteringham/Campbell River Mirror.
Doug Downey is sworn into his new role as Ontario’s Attorney General at Queen’s Park in Toronto on Thursday, June 20, 2019. A new bill in Ontario could make it harder for consumers to sue a business that was involved in the transmission of COVID-19, lawyers say. THE CANADIAN PRESS/ Tijana Martin

Law to shield businesses that spread COVID-19 could benefit insurers, limit consumers

The new law comes amid concerns of the ability of businesses to keep people safe

Doug Downey is sworn into his new role as Ontario’s Attorney General at Queen’s Park in Toronto on Thursday, June 20, 2019. A new bill in Ontario could make it harder for consumers to sue a business that was involved in the transmission of COVID-19, lawyers say. THE CANADIAN PRESS/ Tijana Martin
Greater Victoria private health insurers saved $45 million during the height of the coronavirus pandemic. (Black Press Media file photo)

$45 million saved by Victoria private health insurers during pandemic

Despite a 71 per cent decrease in payouts, premiums remained the same.

Greater Victoria private health insurers saved $45 million during the height of the coronavirus pandemic. (Black Press Media file photo)