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Watch for governments to transfer financial risk from natural disasters to insurers: Swiss Re

October 16, 2020 by Greg Meckbach

There is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes. In Asia, Africa, the United States and Britain, there are examples of national and sub-national

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Cat bonds starting to attract this type of investor

October 15, 2020 by Greg Meckbach

Catastrophe bonds are gaining a reputation as a socially responsible investment, a CatIQ Connect speaker said Wednesday. “Investors seeking investments in the [environmental, social and governance] market are starting to classify cat bonds as a responsible investment,” said Alyson Slater,

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IBC’s solution to ‘finger-pointing’ on who should fund climate resiliency

October 14, 2020 by Greg Meckbach

With weather catastrophes costing the industry billions, insurers are calling for a “whole of society” approach to mitigating climate risk. “Some of our insurer members have been on the vanguard of talking about climate change for many many years now.

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The tough question for insurers withdrawing coverage from coal

October 14, 2020 by Greg Meckbach

The industry’s concern over carbon emissions, and their impact on climate change, raises the question of whether nuclear energy is better for the environment. “One the one hand, nuclear [energy] is a source of carbon-free power generation. On the other

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Intact’s plan to help you advise your client on disaster resilience

October 2, 2020 by Greg Meckbach

By the end of this year, Intact Financial Corp. is hoping that a research centre it funds will have trained more than 140,000 brokers, home inspectors, realtors, and other professionals on how to make properties resilient to extreme weather, CEO

News AdjustersCatastrophesClaimsClaims CanadaClimate ChangeInsuranceLegislation / RegulationRisk

‘Much clearer picture’ of how Ottawa will address flood risk coming soon

September 29, 2020 by Greg Meckbach

A special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,

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Mixed result in British court ruling in business interruption coverage dispute

September 15, 2020 by Greg Meckbach

If a client has business interruption coverage “following” a notifiable disease within a certain distance, while another has coverage for BI “in consequence” of the same disease, one of those clients could be covered for its COVID-19 closure while the

News CatastrophesClaimsClimate ChangeInsurance

Hurricane warnings: Is it crying wolf when storms aren’t as bad as expected?

August 31, 2020 by David Gambrill

While Hurricane Laura’s insured damage estimates in the United States range anywhere between $4 billion to $12 billion, the post-tropical storm predicted for Atlantic Canada did not quite reach the level of intensity initially forecast for the Maritimes last Thursday.

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Rapid-intensity Hurricane Laura ultimately headed for Newfoundland

August 26, 2020 by David Gambrill

The path of Hurricane Laura — which is currently located off the U.S. Gulf Coast and described as one of the fastest-intensifying storms in history — is tracking to hit St. John’s, Nfld., next Monday as a post-tropical storm, according

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The world’s biggest waves: How climate change could trigger large landslides and ‘mega tsunamis’

August 20, 2020 Ryan P. Mulligan, Associate Professor of Civil Engineering, Queen's University, Ontario and Andy Take, Professor, Department of Civil Engineering, Queen's University, Ontario - THE CANADIAN PRESS

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 original site. Authors: Ryan P. Mulligan, Associate Professor of Civil Engineering, Queen’s University,

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Property claim cycle times are on the rise: Xactware data

August 10, 2020 by David Gambrill

While everyone in the Canadian property and casualty insurance industry knows that quick claims response times are critical to consumer satisfaction, cycle times for property claims in Canada increased overall between 2018 and 2019, according to the latest property damage

News CatastrophesClaimsClaims CanadaClimate Change

Who’s getting funding for new research in wildfire prediction, responses

July 31, 2020 THE CANADIAN PRESS

KAMLOOPS, B.C. – A university located in the heart of one of British Columbia’s most volatile forest fire regions will lead new research in wildfire prediction, prevention and response. Thompson Rivers University in Kamloops was chosen for the research that