Topic Environmental
What Canada’s national flood insurance program could look like
March 31, 2023 by Jason ContantCanada’s upcoming national flood insurance program will likely take characteristics from flood models in both France and Britain, Insurance Brokers Association of Canada (IBAC) CEO Peter Braid told Canadian Underwriter in an interview. In its 2023 budget, the federal government…
ESG reporting expectations on suppliers growing, report says
March 31, 2023 by The Canadian PressMONTREAL – A new report finds that small and medium suppliers face growing expectations from their larger customers to report on environmental, social and governance (ESG) standards. The Business Development Bank of Canada (BDC) survey of 121 large companies and…
Regulator defends finding that Alberta’s largest earthquake was caused by oilpatch
March 30, 2023 by Bob Weber - THE CANADIAN PRESSEDMONTON – Alberta’s energy regulator has defended its finding that the province’s largest recorded earthquake was caused by oilpatch activity, saying the pattern of temblors since last fall clearly points to a water disposal well even though there’s no suggestion…
Alberta Energy Regulator to launch third-party probe of oilsands tailings leak
March 29, 2023 by Bob Weber - THE CANADIAN PRESSEDMONTON – The Alberta Energy Regulator says it’s looking for an investigator to dig into releases of oilsands tailings and tailings-contaminated water that weren’t made public for nine months. In a statement Tuesday, the regulator said it’s seeking a “qualified,…
Largest recorded Alberta earthquake not natural, from oilsands wastewater: study
March 23, 2023 by Bob Weber THE CANADIAN PRESSEDMONTON — The largest recorded earthquake in Alberta’s history was not a natural event, but most likely caused by disposal of oilsands wastewater, new research has concluded. “This event was caused by wastewater disposal,” said Ryan Schultz, a Canadian seismologist…
Alberta premier says changes coming to ensure prompt reporting of oilsands spills
March 22, 2023 by Dean Bennett - THE CANADIAN PRESSEDMONTON – Premier Danielle Smith says laggardly public notification of Imperial Oil oilsands wastewater spills has illuminated the need for Alberta to ensure future alarms are sounded quicker. Smith says her government is working with the province’s oilsands regulator to…
Will the multi-billion-dollar Cat loss trend continue indefinitely?
March 22, 2023 by Jason ContantGlobal insured losses from natural catastrophes reached US$125 billion in 2022, the second consecutive year in which insured losses from NatCats exceeded US$100 billion, according to the latest sigma study from Swiss Re Institute. And it looks like this trend…
How the P&C industry can step up after the UN’s latest climate change warning
March 20, 2023 by Alyssa DiSabatinoThe world keeps inching toward a dangerous climate threshold, but if swift action on greenhouse gas (GHG) reductions are taken in all sectors, including insurance, it’s possible to avert catastrophic warming, a new report said. There may be more…
Ottawa requests joint ‘working group’ on oilsands contamination with Alberta
March 20, 2023 by Bob Weber - THE CANADIAN PRESSFederal Environment Minister Steven Guilbeault has further spelled out what he wants to see in a new body that would oversee monitoring and communications around pollution problems in the oilsands. In a letter dated March 16 to his Alberta counterpart…
Claims to expect in Canada after a rough winter in March
March 17, 2023 by Alyssa DiSabatinoParts of Canada have been hit with several major snowstorms in succession this winter, and while none of the severe storms individually will likely be declared catastrophes (i.e. resulting in more than $30 million of insured damage), they may be…
Federal and Alberta governments to study oilsands tailings leak communication
March 17, 2023 by Bob Weber THE CANADIAN PRESSEDMONTON — The Alberta and federal governments say they will work together to understand what happened around a nine-month delay in notifying the public about toxic seepage from an oilsands tailings pond. Alberta Environment Minister Sonya Savage and federal Environment…
New Brunswick to set caps on disaster financial assistance for homeowners
March 16, 2023 by The Canadian PressFREDERICTON — The New Brunswick government announced Wednesday it is capping financial compensation for properties that repeatedly experience damage from climate-related disasters. Public Safety Minister Kris Austin said the changes, which take effect immediately, will increase to $200,000 the total…