Page 6 - Quantification Inc News Today

Historic flooding in Nova Scotia last month caused more than $170 million in insured damages, an initial estimate from Catastrophe Indices and Quantification Inc. shows.

Historic flooding in Nova Scotia last month caused more than $170 million in insured damages, an initial estimate from Catastrophe Indices and Quantification Inc. shows.

The flood and rainstorm event that hit Nova Scotia in July is estimated to have caused over $170 million in insured damage.

A 20-year-old man from Brampton has had his licence suspended after he was caught driving more than double the speed limit in Guelph.

Canadian insurers could see between $700 million and $1.5 billion in insured losses from this summer’s wildfire season.

Almost 20 years to the day wildfires caused $200 million in insured damage back in 2003, Kelowna is burning once again.

Damage from secondary perils such as thunderstorms in the first half of 2023 is of primary concern to reinsurers.

Adjusters are beginning to see claims pour in after thunderstorms dumped record amounts of rain on Nova Scotia this Friday. 

As natural catastrophe recovery costs continue to climb, insurers and reinsurers risk encountering scenarios that could mean insolvency

Intact Financial Corporation saw an estimated $335 million in catastrophe losses in Canada for the second quarter of 2023.