Canadian Underwriter

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Climate Change


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ICLR to host webinar related to extreme rainfall on March 24

March 2, 2017 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) will be holding a webinar on “physics” versus climate models as related to extreme rainfall on March 24. The ICLR announced the webinar, titled Practical issues in updating IDF curves for future climate:

Feature CatastrophesClimate Change

Weather-Proofed

March 1, 2017 Angela Stelmakowich, Editor

Community resilience looks to be taking a big step forward with the recent announcement that National Research Council Canada (NRCC) will take into account climate change as part of regular updates to the country’s building codes. The NRCC will conduct

News AssociationsClimate ChangeConstructionInsurance

IBC congratulates federal government on National Research Council decision to update Canada’s building codes

February 28, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is congratulating the federal government on the National Research Council Canada (NRC) decision to update the country’s building codes to reflect the realities of climate change. “This is something that Canada’s property and casualty

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesTechnology

RSA Canada posts solid underwriting profit despite nat-Cat events in 2016

February 24, 2017 by Angela Stelmakowich

RSA Canada witnessed increased underwriting profit and a solid combined ratio for 2016 despite what can only be described as a challenging year that featured Canada’s most costly insurable nat-Cat ever and a host of other adverse weather events. “We’re

News CatastrophesClimate ChangeConstructionInsuranceMarkets / Coverages

Two U.S. dams illustrate challenge of maintaining older designs

February 22, 2017 Michael R. Blood - THE ASSOCIATED PRESS

LOS ANGELES – Twelve years ago, widespread destruction from Hurricane Katrina on the Gulf Coast helped compel federal engineers 2,000 miles away in California to remake a 1950s-era dam by constructing a massive steel-and-concrete gutter that would manage surging waters

News Climate ChangeInsurance

Canadian Arctic glaciers now major contributor to sea level change: study

February 21, 2017 by Canadian Underwriter

Ice loss from Canada’s Arctic glaciers has transformed them into a major contributor to sea level change, according to recent research by glaciologists at the University of California, Irvine (UCI). From 2005 to 2015, surface melt off ice caps and

News CatastrophesClimate ChangeInsuranceLegislation / RegulationMarkets / CoveragesTechnology

Cyber attack remains top business continuity concern, preparedness for all threats urged: Horizon Scan Report

February 21, 2017 by Canadian Underwriter

Cyber attack, data breach and unplanned IT and telecom outages are the greatest concerns among business continuity professionals, concludes the sixth annual Horizon Scan Report, released Tuesday. The top three concerns remain unchanged from the last report carried out by

News Climate ChangeInsuranceMarkets / Coverages

60% of Ontarians at least somewhat oppose cap and trade: Nanos Research poll

February 17, 2017 by Canadian Underwriter

A new province-wide poll has found that more than 60% of Ontarians at least somewhat oppose cap and trade, which is designed to help fight climate change and reward businesses that reduce their greenhouse gas emissions. The Nanos Research poll,

News CatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsurancePersonal Lines

AIG sees net loss of about US$3 billion in 2016 Q4

February 15, 2017 by Canadian Underwriter

American International Group, Inc. (AIG) has posted net losses for both the full year and the fourth quarter of 2016, but company president and CEO Peter Hancock reports that actions taken last year will help “dramatically reduce uncertainty and deliver

News Climate ChangeInsurancePersonal LinesTechnology

Commonwell Mutual Insurance Group offers new flood policy endorsement for Ontario homeowners

February 13, 2017 by Canadian Underwriter

Commonwell Mutual Insurance Group has a new policy endorsement that uses geo-coding to provide Ontario homeowners in low- and medium-risk zones with protection against property damage from flooding, surface water and sewer back-up caused by flood events. Starting Feb. 13,

News Climate ChangeInsuranceTechnology

B.C. government launches incentives for zero-emission vehicles

February 6, 2017 by Canadian Underwriter

British Columbia’s Minister of Energy and Mines has announced an investment of $40 million to encourage British Columbians to “make the switch to zero-emission vehicles, reduce greenhouse gas emissions and support investment in made-in-B.C. green technology.” Bill Bennett announced the

News CatastrophesClimate ChangeCommercial LinesPersonal LinesReinsurance

2016 sees highest-ever catastrophe insured losses, hail has impact: Rennie

February 1, 2017 by Angela Stelmakowich

2016 was a year of records: the largest catastrophe-related insured losses in Canada’s history, the biggest loss for a single Cat and the most hail events in the month of July, Carolyn Rennie, managing director of Catastrophe Indices and Quantification