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Climate Change


after the forest fire
News CatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsuranceMarkets / CoveragesPersonal LinesReinsurance

Fort Mac wildfire more than an “earnings event” for some insurers, domestic market posts $1 billion underwriting loss in H1: MSA

September 28, 2016 by Canadian Underwriter

The Fort McMurray wildfire may have been an “earnings event” for the largest insurers in Canada’s property and casualty industry, but that was not the case for some smaller regional writers, notes the newly released MSA Quarterly Outlook Report for

fire
News CatastrophesClimate ChangeInsurancePersonal Lines

California heat wave intensifies wildfire threatening homes

September 27, 2016 Noah Berger and Kristin J. Bender - THE ASSOCIATED PRESS

MORGAN HILL, Calif. – A heat wave stifling drought-stricken California worsened a wildfire Tuesday that burned buildings and forced people from their homes in remote communities along the Santa Cruz Mountains. The blaze in a rugged area about 30 miles

LNG Opposition 20160530
News Climate ChangeConstructionInsuranceMarkets / Coverages

Federal decision is at hand for proposed LNG plant in northern B.C.

September 26, 2016 Bruce Cheadle - THE CANADIAN PRESS

OTTAWA – Environment Minister Catherine McKenna has a final environmental assessment of the Pacific NorthWest LNG project in hand, with the federal Liberal cabinet set to meet Tuesday in the national capital. A decision from the Liberal government on the

Small scale farming with tractor and plow in field
News AssociationsClimate ChangeCommercial LinesInsuranceMarkets / Coverages

Ottawa supports pilot project for new credit insurance tool for farmers

September 26, 2016 by Canadian Underwriter

The federal government is investing more than $400,000 to support the Canadian Federation of Agriculture’s (CFA) efforts to introduce a new accounts receivable insurance tool for farmers. CFA’s two-year pilot project addresses a gap in the agriculture sector for individual

Auto insurance claim form
News Climate ChangeInsurancePersonal Lines

IBC applauds Ontario government’s focus on auto insurance reforms

September 23, 2016 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is applauding the Government of Ontario for “continuing to make auto insurance reforms a priority” as the government released mid-point mandate letters for all Cabinet Ministers. One of the key items in Minister of

20110901Keephills
News Climate ChangeCommercial LinesInsurance

Alberta advisory panel to consult communities on transition away from coal-fired electricity generation

September 23, 2016 by Canadian Underwriter

Just days after the Alberta government announced a task force to provide recommendations on climate technology to help transition to a lower-carbon economy, it has appointed a three-member expert panel to meet with those affected by the transition away from

News Climate ChangeInsurance

Paris climate change agreement passes key threshold

September 21, 2016 Michael Astor - THE ASSOCIATED PRESS

Thirty-one countries formally joined the Paris climate change pact Wednesday, bringing the total number of countries ratifying the treaty to 60 and raising hopes that it will enter into effect by the end of the year. The number is higher

heatwave in the city and hand showing thermometer
News Climate ChangeInsurance

August marks ongoing trend of record-breaking heat for the globe: NOAA

September 21, 2016 by Canadian Underwriter

August 2016 marked the 16th month of record warmth for the globe, the longest such streak in 137 years, the National Oceanic and Atmospheric Administration (NOAA) said on Tuesday. Last month was 1.66 degrees Fahrenheit above the 20th-century average, breaking

power plant
News Climate ChangeInsuranceTechnology

Alberta appoints task force to help province transition to lower-carbon economy

September 20, 2016 by Canadian Underwriter

The Alberta government announced on Monday that it has appointed a task force to provide recommendations on targeting investments in climate technology to help transition to a lower-carbon economy. As part of Alberta’s Climate Leadership Plan, the government will phase

Deep South Weather
News CatastrophesClimate ChangeCommercial LinesInsurancePersonal Lines

Estimated insurable losses from Louisiana floods to range between US$8.5 billion and US$11 billion: AIR Worldwide

September 19, 2016 by Canadian Underwriter

AIR Worldwide is estimating that “industry ground-up insurable losses” from the flooding in Louisiana during August will be between US$8.5 billion and US$11 billion. The catastrophe modelling firm explained in a press release issued on Monday that the “industry ground-up

News CatastrophesClimate ChangeInsurance

Nova Scotia dry spell just a ‘dress rehearsal:’ Environment Canada

September 15, 2016 The Canadian Press

HALIFAX – An Environment Canada climatologist is warning that a dry spell in Nova Scotia that has left some people without water is just a “dress rehearsal” for the kind of weather conditions Canada can expect in the years to

after the forest fire
News CatastrophesClimate ChangeCommercial LinesConstructionEarnings / RatingsInsurancePersonal LinesReinsurance

Change in exposure driving widening gap between insured, economic losses following disaster events

September 14, 2016 by Angela Stelmakowich

CALGARY – A dramatic loss scenario around disaster events is developing globally, contributing to a widening gap between insured and economic losses, Alex Kaplan, senior vice president of global partnerships for Swiss Re, suggested earlier this week during the RIMS