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Climate Change

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Aviva Canada wants to talk to you about reducing your carbon footprint

March 8, 2021 by David Gambrill

Aviva plc has set an aggressive target to become a net zero carbon emissions company by 2040. “Aviva is taking bold steps to help tackle the climate crisis,” Amanda Blanc, Aviva Group’s CEO, said when announcing the 2040 Net Zero

News CatastrophesClaimsClaims CanadaClimate ChangeReinsurance

Advice from the U.S.: Canada needs exit strategy from national flood

March 4, 2021 by Greg Meckbach

Canada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance

News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

Where Canada sits with high-risk flood insurance pool

February 3, 2021 by Greg Meckbach

Industry experts are trying to calculate how much it would cost to set up an insurance pool for homes at high risk of overland flood, an Insurance Bureau of Canada official suggests. Canada’s Task Force on Flood Insurance and Relocation

News CatastrophesClaims CanadaClimate Change

Get ready for a ‘multi-year correction’ upwards in commercial insurance pricing

February 2, 2021 by Greg Meckbach

Despite consecutive quarters of double-digit increases in specialty lines, commercial insurers are likely to continue raising your clients’ premiums even further in the coming years, a Bermuda insurance CEO warns. “While the pricing momentum we are seeing in both insurance

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Western broker: Don’t chop off the head of oil industry

December 9, 2020 by Greg Meckbach

Although the impact of carbon emissions on climate is a major concern for carriers, western Canadian brokers are concerned about efforts to reduce Canada’s reliance on oil and gas. “Oil and gas is not going away any time soon, and

News CatastrophesClaims CanadaClimate ChangeInsuranceLegislation / RegulationMarkets / Coverages

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

News CatastrophesClimate ChangeInsuranceReinsurance

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,

News Climate ChangeInsurance

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.

News Climate ChangeInsuranceReinsurance

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

News AdjustersCatastrophesClaims CanadaClimate Change

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,

News Climate ChangeInsuranceLegal

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