Keyword
climate change
P&C insurers call for a real estate climate risk score
October 26, 2022 by David GambrillCanadian P&C insurers are banding with Canada Mortgage and Housing Corporation (CMHC) to push for the disclosure of a real estate “climate score,” indicating the likelihood of a building or property being damaged during a natural catastrophe. Insurance Bureau of…
Munich Re to stop its backing for new oil and gas fields
October 11, 2022 The Associated PressBERLIN (AP) – Munich Re, one of the world’s biggest insurance companies, said Thursday that it will stop backing new oil and gas fields beginning next April. The company said it will also no longer invest in or insure new…
Global climate disclosure standards will take time and money, P&C industry warned
September 22, 2022 by David GambrillCanada’s solvency regulator is seeking to harmonize climate risk disclosures with international standards, which some Canadian P&C insurers are viewing as akin to a climate-related IFRS 17 initiative. Some contend OSFI’s forthcoming guidance on harmonizing companies’ climate-related risk disclosures with…
Climate change effect on public transportation infrastructure to cost billions: financial watchdog
September 22, 2022 The Canadian PressTORONTO – Ontario’s financial watchdog says the effects of climate change are projected to cost the province an extra $1.5 billion a year on average in the next few years just to maintain public transportation infrastructure. A report released today…
Do’s and don’ts for dealing with global warming claims
September 21, 2022 by Alyssa DiSabatinoInsurers predict the frequency and sustainability of climate change-related litigation could soon become a significant issue. But there are ways for risk managers to pursue coverage effectively when their businesses are faced with climate-related claims, such as quantifying risk, working…
Coalition on climate adaptation says Canada needs hard targets on disaster resilience
September 13, 2022 Mia Rabson - THE CANADIAN PRESSOTTAWA – A broad coalition on climate adaptation and disaster resilience says air conditioning should become a human right on par with winter heating – one of a series of hard targets it says Canada needs to meet in the…
Navigating climate change: How shipping is adapting in the St. Lawrence
September 8, 2022 The Canadian PressBy Claude Comtois, Professeur emerite de geographie, Universite de Montreal – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the…
How the insurance industry can invest in climate sustainability
September 1, 2022 by Alyssa DiSabatinoClimate-friendly impact investments and those promoting resilience to the damaging effects of climate change are environmentally responsible ways for insurers to allocate their capital, suggests one insurance expert. Aside from charging premiums for policies, insurers turn a profit by…
Canada is witnessing more thunderstorms than ever before
August 23, 2022 Gregory Kopp, David Sills and Julian BrimelowThis article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Residents in eastern Ontario are still recovering after a tornado-producing thunderstorm…
Newfoundland wildfires could be sign of what climate change has in store for province
August 15, 2022 The Canadian PressST. JOHN’S, N.L. – A climatologist says the wildfires that have been burning for more than two weeks in central Newfoundland could be a sign of what’s to come as the province feels the impacts of climate change. Joel Finnis,…
Why your client now needs environmental insurance
July 4, 2022 by Jason ContantClimate change is resulting in larger and non-traditional pollution losses, necessitating the need for environmental insurance to cover possible coverage gaps left by other policies, an environmental insurance expert said recently. Stronger storms coupled with increased land development can lead…
Emergency alerts when severe weather happens can be improved: Environment Minister
May 26, 2022 Mia Rabson - THE CANADIAN PRESSOTTAWA – Emergency weather alerts that are broadcast over the mobile network should be improved to make sure they are getting to the right people at the right time, Environment Minister Steven Guilbeault said Wednesday. Guilbeault is in Germany for…