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Ontario cap-and-trade won’t limit emissions through 2020: environment watchdog

November 22, 2016 The Canadian Press

TORONTO – Ontario’s environmental commissioner says the upcoming cap-and-trade program will not limit the province’s greenhouse gas emissions through to 2020. In a report released today, Dianne Saxe says that after Ontario’s system is linked with California and Quebec’s in

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Federal government should consider emergency back-stop mechanism for catastrophic earthquake: conference board

November 22, 2016 by Canadian Underwriter

The Conference Board of Canada is echoing a recent recommendation by a former federal superintendent of financial institutions for Ottawa to consider adopting a last-resort, emergency back-stop mechanism for a catastrophic earthquake given the long-reaching, adverse effects that the event

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Liberals set plan to phase out coal by 2030, with flexibility for Nova Scotia

November 21, 2016 The Canadian Press

OTTAWA – The Liberal government is moving to phase out the use of coal-fired electricity in Canada by 2030 as part of its overall clean-energy strategy. The goal is to make sure 90 per cent of Canada’s electricity comes from

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Canadians may not realize ‘magnitude of challenge’ in 2050 climate strategy

November 18, 2016 Bruce Cheadle - THE CANADIAN PRESS

OTTAWA – The federal government has released its long-term climate strategy with a caution that most Canadians – while sympathetic to the cause – don’t yet understand the “magnitude of the challenge.” The document suggests the country should find a

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Zurich Insurance announces plans to position itself for future, new profitability targets

November 17, 2016 by Canadian Underwriter

Zurich Insurance Group plans to build on customer relationships, simplify the business and significantly reduce costs as part of its renewed focus on increasing business profitability and delivering high-quality earnings over the 2017-2019 period, the global insurer announced Thursday. “In

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Ontario, Quebec and California hold “linked carbon market” meeting at COP22

November 16, 2016 by Canadian Underwriter

The governments of Ontario, Quebec and California held a tri-lateral meeting on Wednesday to further efforts to reduce greenhouse gas (GHG) emissions while boosting economic growth by linking cap-and-trade programs and expanding carbon markets. Ontario’s Minister of the Environment and

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Global natural disasters cost US$520 billion in losses every year, poor disproportionately affected: study

November 15, 2016 by Canadian Underwriter

The impact of extreme natural disasters is equivalent to a global US$520 billion loss in annual consumption, forcing some 26 million people into poverty each year, a new report from the World Bank and the Global Facility for Disaster Reduction

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IBC applauds Ontario government’s decision to move forward with creation of new financial services regulator

November 15, 2016 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is applauding the Ontario government’s decision to move forward with the creation of a new financial services regulator. On Monday, the government of Ontario announced in its 2016 Ontario Economic Outlook and Fiscal Review

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2016 set to be hottest year on record: World Meteorological Organization

November 14, 2016 by Canadian Underwriter

2016 is “very likely” to be the hottest year on record, with global temperatures even higher than the record-breaking temperatures in 2015, according to an assessment by the World Meteorological Organization (WMO), the United Nation’s agency on weather, climate and

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Total insured value of U.S. residential and commercial coastal properties now exceeds US$13 trillion: AIR

November 11, 2016 by Canadian Underwriter

The total insured value of exposed residential and commercial properties in coastal counties in the United States now exceeds US$13 trillion, according to a new report from AIR Worldwide. The catastrophe risk modelling firm released the report titled The Coastline

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Insurance rates decrease continued to moderate for third quarter in a row: Marsh

November 11, 2016 by Canadian Underwriter

The third quarter of 2016 marked the third consecutive quarter that the rate of decline for global insurance rates has moderated by weighted average, Marsh notes in its newly released Global Insurance Market Index Q3 – 2016. Pointing out that

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Half of smart city objectives will include climate change, resilience and sustainability key performance indicators by 2020: Gartner

November 10, 2016 by Canadian Underwriter

By 2020, half of all smart city objectives will include climate change, resilience and sustainability key performance indicators (KPIs), Gartner, Inc., the Stamford, Conn.-based information technology research and advisory company reported. Cities are defining new objectives and placing them into