insurance

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

 

White Rock homeowners have discovered they are on the hook for 20% of the damage repair bill (revised down from 30%) after a car crashed into their Thrift Avenue building on Dec. 3. (submitted photo)

Homeowners on the hook for thousands after car crashes into White Rock condo

‘We have no-fault insurance – it’s now our-fault insurance?’: strata treasurer

 

Plumber Brian McCann is out nearly $6,000 in tools after a thief broke into his locked canopy while McCann was dealing with the death of his father. ICBC doesn’t cover content insurance, so he’s struggling to get back to work. (Submitted photo)

Fundraiser for plumber following Abbotsford tool theft reaches more than $1,000

Readers and commenters say they can relate to having livelihood stolen by thieves, offer support

Plumber Brian McCann is out nearly $6,000 in tools after a thief broke into his locked canopy while McCann was dealing with the death of his father. ICBC doesn’t cover content insurance, so he’s struggling to get back to work. (Submitted photo)
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)
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
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