Canadian Underwriter

Topic
Climate Change


News Climate ChangeInsuranceRisk

Is climate change driving up the risk of wildfires in Canada?

January 8, 2020 Mia Rabson - THE CANADIAN PRESS

OTTAWA – Canadian wildfire experts say Canada is very vulnerable to the kind of devastating wildfires ravaging Australia right now. More than 12.5 million acres (about 5.1 million hectares) of bushland have burned in Australia since October and prime forest-fire

News Climate Change

‘Growing cost’ of climate change prompts this insurer to stop covering oil sands

January 2, 2020 by Greg Meckbach

The Hartford has added its name to the list of insurers who will not write new business in Canada’s oil sands. Connecticut-based Hartford Financial Services Group Inc. announced Dec. 20 it will stop insuring companies that generate more than 25%

Feature CatastrophesClaims CanadaClimate Change

Bright skies ahead

January 1, 2020 Adam Malik, Managing Editor

Catastrophes have hit Canadian P&C adjusters  hard, causing many to wonder if the industry has  the capacity to handle increasing workloads. Why adjusters see sunnier times ahead

News ClaimsClimate ChangeInsurance

How climate change will change the way you do business in the future

December 13, 2019 by Adam Malik

When pricing property coverage in the future, it’s time for the industry to ask itself: “How are we going to deal with changes in weather?” Historically, insurance products have been priced based on data and loss history, observes Ernest Mashingaidze,

News ClaimsClimate ChangeInsuranceRisk

How D&O insurance is entering unknown territory

December 11, 2019 by Adam Malik

Gone are the days of directors and officers insurance being put to the test due to guidance misses or financial misstatements. Nowadays, the biggest threats are coming from so-called “bad news” events like product recalls, disasters and cyberattacks. And the

Feature Climate ChangeMarkets / CoveragesReinsurance

Turning off the taps

December 7, 2019 Greg Meckbach, Associate Editor

Global insurers are starting to withdraw from providing insurance coverage to the oil sands, which accounts for about two-thirds of Canadian oil production. What this means for your clients in the oil and gas sector…

News Climate ChangeRisk

What the Bank of Canada sees as “transition risks”

November 22, 2019 Ian Bickis - THE CANADIAN PRESS

TORONTO – Bank of Canada governor Stephen Poloz wasn’t asked about climate change risks at a discussion about economic change and emerging risks on Thursday, so he brought them up himself. “It’s about the transition risk, right, as everyone’s portfolio

News Climate ChangeInsurance

More insurers may stop covering oil sands: Environmentalist

October 24, 2019 by Greg Meckbach

Expect more insurers to stop covering Canadian oil sands infrastructure and pipeline projects, an environmental advocate suggests. “We have seen a lot of insurance companies, over the last four or five years, adopt coal policies and get out of insuring

News Climate ChangeInsurance

Another insurer to withdraw coverage from oil sands

October 16, 2019 by Greg Meckbach

Starting next year, Axis Capital Holdings Ltd. will stop writing new insurance and facultative reinsurance for oil sands extraction and pipeline projects. Pembroke, Bermuda-based Axis writes commercial specialty and reinsurance. Its new thermal coal and oil sands underwriting and investment

News Climate ChangeInsuranceReinsurance

Large reinsurer to stop writing oil sands business: Memo

October 15, 2019 by Greg Meckbach

Concerns about climate change from human-produced greenhouse gas emissions may have prompted the world’s largest property and casualty reinsurer to stop writing some business for oil sands sites, according to an unverified document obtained by Canadian Underwriter. Facultative reinsurance covers

News Climate ChangeInsuranceMarkets / Coverages

Canadians confused about flood risk, study finds

October 11, 2019 by Adam Malik

Canadians are seemingly drowning in confusion when it comes to flood risk, according to a recent survey of 1,700 Canadians. The survey on flood risk, commissioned by RSA Canada and World Wildlife Fund Canada (WWF-Canada), produced some seemingly self-contradictory findings.

News Climate Change

How high IPCC says the seas could rise

September 25, 2019 Seth Borenstein - THE ASSOCIATED PRESS

NEW YORK – Earth is in more hot water than ever before, and so are we, an expert United Nations climate panel warned in a grim new report Wednesday. Sea levels are rising at an ever-faster rate as ice and