Topic
Climate Change
Are underwriters pricing for new tech in homes?
April 22, 2024 by David GambrillGlobally, the property and casualty insurance industry may be underestimating the vulnerability of property that uses technology to adapt to climate change, a speaker told attendees at the 38th Swiss Re Outlook breakfast held in Toronto last Tuesday. Also, property…
Why ICLR is heading West
April 19, 2024 Philip PoradoAs part of a partnership with Wawanesa Insurance, the Institute for Catastrophic Loss Reduction (ICLR) will set up a new ICLR Climate Resilience Centre in Winnipeg. Wawanesa is providing office space and operating funds for the new centre. The centre…
Report suggests little progress in first year of Alberta’s emissions reduction plan
April 19, 2024 The Canadian PressA survey from a clean energy think-tank says Alberta has done little to implement its plan to reduce its greenhouse gas emissions. The Pembina Institute has examined the measures included in the province’s plan released one year ago. It says…
Feds commit $15 million to flood insurance backstop. Is it enough?
April 18, 2024 by David GambrillAlthough the federal government committed to forge ahead with its long-awaited flood insurance backstop Tuesday, Canada’s property and casualty insurance industry notes the 2024 federal budget was light on details – and funding. The insurance industry has been negotiating with…
Carbon insurance: Bigger than cyber?
April 10, 2024 by Jason ContantThe global voluntary carbon market (VCM) is expected to show “hockey stick growth” over the next few decades, representing a dramatic opportunity for the insurance industry. “Look at the cyber market now in insurance — it’s the new big thing,”…
Why this MGA is betting on carbon insurance
April 9, 2024 by Jason ContantSpecialist insurance provider CFC has entered the voluntary carbon market (VCM) with the launch of a carbon delivery insurance product that safeguards the purchase of carbon credits. VCMs are decentralized markets in which individuals or organizations buy credits to voluntarily…
Why climate change on the farm equates to a big bill
April 8, 2024 Amanda Stephenson – The Canadian PressTo get an idea of the financial toll extreme weather is taking on this country’s agriculture industry, look no further than the government of Saskatchewan’s books. The prairie province had forecast a more than $1 billion surplus for the fiscal…
B.C. to get wildfire training and education centre in response to expert task force
April 5, 2024 The Canadian PressBritish Columbia’s premier says a training and education centre for wildfire fighters will be established in response to recommendations by a task force that looked into last year’s catastrophic wildfires. David Eby says the centre at Thompson Rivers University in…
Driven by wildfire smoke, Canada’s air quality worse than U.S. in 2023
March 25, 2024 Jordan Omstead – The Canadian PressCanada’s air pollution levels last year were worse than those in the United States for the first time since an air-quality firm started publishing its assessments in 2018. The sixth World Air Quality report published Tuesday by Swiss firm IQAir…
B.C.’s plan for flood mapping and building back better
March 22, 2024 by Alyssa DiSabatinoA new report by the Government of British Columbia details its commitment to developing a provincially coordinated floodplain mapping program, and sheds light on how and where it intends to rebuild communities after a flood. More specifically, the report, From…
Three necessities for Canada’s national flood insurance program
March 21, 2024 by Jason ContantCanada’s upcoming national flood insurance program needs to specify exclusions, phase in risk-based premiums, and provide incentives for flood resilience measures, the Canadian Climate Institute (CCI) says in a recent blog. A low-cost flood insurance program should drive safer decisions…
How Canada’s winter weather predicts 2024 Cat claims
March 21, 2024 by Alyssa DiSabatinoThis winter clocked in as Canada’s warmest winter ever, and adjusters are already sounding the alarm that a winter with no or little snow could mean more wildfire claims over the rest of the year. Snowpack in winter is one…