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Jasper wildfire drives insured losses even higher

By Alain Castonguay | Aug. 29, 2024, 10:59 a.m.

This is the second event during the Summer of 2024 where insured damage costs have been estimated at several hundred million dollars.

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AON

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INSURANCE BUREAU OF CANADA (IBC)

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CATASTROPHE INDICES AND QUANTIFICATION INC. (CATIQ)

July flooding in Toronto caused almost one billion in insured damage

Canadian insurance market sees 12 per cent rise in insured flood risks

Deep freeze caused $180 million in insured damage across three provinces

Climatic events weighed on insurers’ results in 2023

DEFINITY FINANCIAL CORPORATION

A strong first half for four Canadian property and casualty insurers

Definity reports 32% increase in second quarter net income

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INTACT

Intact nearly triples profit in Q2 2024

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Intact's earnings up 79 per cent for the first quarter of 2024

Climate changes

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Damages

Electric vehicle repair costs rise

Aging infrastructure leading to increased losses

Hurricane season not expected to impact reinsurer’s credit ratings

Thefts of heavy vehicles and cargo borne by insurers

Claims

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Losses

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Number of fraudulent claims detected by insurer skyrockets