Canadian Underwriter

Topic
Climate Change


News CatastrophesClimate ChangeCommercial LinesConstructionEarnings / RatingsInsurancePersonal LinesReinsurance

Estimated insured losses from Hurricane Matthew for U.S., Caribbean between US$2.8 billion and US$8.8 billion: AIR

October 13, 2016 by Canadian Underwriter

Modelled insured losses from Hurricane Matthew could range from US$2.2 billion to US$6.8 billion for the United States and US$600 million to US$2.0 billion for the Caribbean, notes an estimate issued Thursday by AIR Worldwide. Hurricane Matthew affected the Caribbean

News CatastrophesClimate ChangeInsurance

Human-caused climate change has doubled western U.S. forest fire area, new study finds

October 12, 2016 by Canadian Underwriter

Human-caused climate change has nearly doubled the amount of land burned in forest fires in the western portion of the United States over the past three decades, according to a new study from researchers at Columbia University and the University

News CatastrophesClimate ChangeInsuranceProfessional Development

Canadian business leadership critical to reducing climate and other natural disaster risks, PwC Canada says

October 7, 2016 by Canadian Underwriter

Canadian business leadership is crucial to reducing the risks from climate and other natural disasters, PwC Canada said on Friday. That day, PwC convened a group of private and public sector leaders to discuss the case for Canadian businesses to

News Climate ChangeInsurance

Paris climate agreement to take effect Nov. 4

October 6, 2016 Michael Astor - THE ASSOCIATED PRESS

The landmark Paris agreement on climate change will enter into force on Nov. 4, after a coalition of the world’s largest polluters and small island nations threatened by rising seas pushed it past a key threshold on Wednesday. President Barack

News CatastrophesClimate ChangeCommercial LinesInsuranceMarkets / CoveragesPersonal LinesReinsurance

Cat bond issuance so far in 2016 down 15% compared to same period in 2015, Fort Mac reviving talk about unmodelled risks: PCS

October 5, 2016 by Canadian Underwriter

Year-to-date Cat bond issuance was down more than 15% compared to the prior-year period as a result of a usually light third quarter and a less usual quiet second quarter, notes a new report from Property Claim Services (PCS). The

News Climate ChangeInsuranceMarkets / Coverages

IBC applauds federal government’s approach to carbon pricing

October 4, 2016 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) has applauded the Government of Canada’s pan-Canadian approach to pricing carbon pollution. “IBC congratulates the government on today’s carbon pricing announcement,” IBC president and CEO Don Forgeron said in a statement on Monday. “Severe

News Climate ChangeInsuranceLegislation / Regulation

National carbon price to be $10 a tonne in 2018, $50 by 2022, Trudeau says

October 3, 2016 The Canadian Press

OTTAWA – Prime Minister Justin Trudeau has pre-empted climate change negotiations with Canada’s premiers, announcing that the federal government will impose a pan-Canadian floor price on carbon pollution. Trudeau revealed Monday his plan to reduce greenhouse gas emissions, starting in

News Climate Change

East Anglia prof warns of ‘real major challenge’ in limiting average world temperature increase to 2 Celsius

September 29, 2016 Seth Borenstein - THE ASSOCIATED PRESS

WASHINGTON, D.C. – A team of top scientists is telling world leaders to stop congratulating themselves on the Paris agreement to fight climate change because if more isn’t done, global temperatures will likely hit dangerous warming levels in about 35

News Climate ChangeInsurance

Liberal government defends LNG project approval, says impacts will be monitored

September 29, 2016 by Canadian Underwriter

OTTAWA – The Liberal government is defending its conditional approval of a massive liquefied natural gas project in northern British Columbia by pointing to what it calls a “historic partnership” on monitoring environment impacts. But critics are accusing Prime Minister

News CatastrophesClimate ChangeInsurance

Changing climate is raising forest fire risk, says Natural Resources Canada annual report

September 28, 2016 Bruce Cheadle - THE CANADIAN PRESS

OTTAWA – A new government report says that by the end of this century a changing climate is expected to at least double the area burned each year by forest fires in Canada. The 2015 annual forest assessment by Natural

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

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