Insurable Interest Canadian Insurance Blog

Governments and insurers must work together urgently to prepare communities and households for wildfires, floods, windstorms and hail while improving Canada’s response to and recovery from these increasingly frequent and severe disasters — By Craig Stewart, Vice President, Climate Change and Federal Issues, IBC — In the last decade, more than 880,000 Canadians and 87,000 businesses have suffered financial losses due to damage caused by severe weather and natural catastrophes, with property & casualty insurers paying out more than $30 billion in claims for these types of events. Beyond these numbers lie the hard-to-quantify costs to society in terms of lives disrupted, homes lost and financial hardship experienced by individuals, families and businesses. In addition, Canadian households pay deductibles and shoulder non-insured losses, while governments absorb impacts to infrastructure and rely on tax payers to fund disaster assistance. The vast majority of those affected are low- and middle-income Canadians and small and medium-sized businesses. Ten years ago, Canada began to take significant action to tackle climate change. As a country, we focused on reducing carbon emissions, and have allocated $41.8 billion since 2016 to fund mitigation measures, such as those that affected or worked toward the reduction of Canada’s greenhouse...

Yearly nation-by-nation ranking of world’s business environments reflects global economic strains, innovation challenges and increasing cyber threats Johnston, RI (Mar. 12, 2025) – Commercial property insurer FM Global has released the 2025 FM Resilience Index, its yearly ranking of 130 countries and territories by the resilience of their business environments. New in 2025, the index now includes proprietary FM data to provide a comprehensive picture of cybersecurity risk. Denmark claims the top position in the index for the second straight year, thanks to its high productivity, educated populace and robust cybersecurity. These are three of the index’s 18 resilience-scoring factors, which consist of macro risks, such as inflation and political risk, and physical risks, such as climate risk exposure and fire risk quality. The next nine regions in the ranking are Luxembourg at No. 2, followed by Norway, Switzerland, Singapore, Sweden, Germany, Finland, Belgium and the United States Zone 3 (the central US)*. The index includes data from third parties like the International Monetary Fund and World Bank, as well as FM risk exposure and improvement measures. “The FM Resilience Index delivers unique insights to navigate the complexities of a rapidly changing world,” said Leo Kushner, staff vice president, manager...

Nanaimo, BC (Mar. 6, 2025) – Downs Construction, a proud partner with The Pro-Claim Group, is excited to announce the opening of its new office in Nanaimo, BC. This strategic expansion enables Downs Construction to extend its trusted restoration services to more residents across Vancouver Island, building on the strong foundation it has established in Victoria and Duncan. At the heart of Downs Construction’s success is its dedicated team, who bring expertise, compassion, and a relentless commitment to helping others in need. Their passion for restoring not just properties but also peace of mind has defined Downs Construction’s reputation in the industry. “We’re excited to expand our office to Nanaimo,” said Rod Absolon, General Manager of Downs Construction. “We’ve seen the positive impact our work has had in the Greater Victoria area, and we’re eager to ensure that more people up island receive the best possible experience. No one likes dealing with a flood or a fire in their home or business, and we know we’re pretty good at making the best out of a terrible situation. Our goal is simple: we just want to help people when they need it most.” With a relentless focus on excellence, Downs Construction...