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INDUSTRY NEWS


How this year’s CAT losses are trending
Source: Canadian Underwriters
July 3, 2019 by Adam Malik


Canada is well on its way to cracking the $1-billion threshold in insured catastrophe losses yet again as we enter the second half of 2019.

Catastrophe Indices and Quantification (CatIQ) told Canadian Underwriter Wednesday that the estimated catastrophic insured loss so far this year sits at $600 million. The updated number comes after the company pegged insured damage fro
m Spring floods in Quebec, Ontario and New Brunswick at upwards of $208 million.

Canada has averaged $1 billion in insured CAT damage every year over the past decade.

Last year, insured CAT damage reached the $2-billion mark. That prompted one author in Canadian Underwriter‘s forthcoming 2019 Stats Guide to wonder whether or not $2 billion in annual insured losses might be the new normal....to read full article CLICK HERE




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