Topic Environmental
Swiss Re report shows trajectory of insured flood losses
September 2, 2022 by Alyssa DiSabatinoInsured flood losses doubled to $80 billion during 2011-20 compared to the previous decade, and global flood losses reached $20 billion alone in 2021, Swiss Re reports. “Increased wealth, larger populations and urbanization have raised flood risk exposures across the…
Uxbridge renters priced out of town after May 21 derecho still displaced
September 1, 2022 by Holly McKenzie-Sutter - THE CANADIAN PRESSUXBRIDGE, Ont. – Blue tarps colour the rooftops and wooden boards cover up shattered windows in Uxbridge, Ont., three months after a devastating tornado ripped through town northeast of Toronto. Mangled trees and torn-up houses surround one of the town’s…
How the insurance industry can invest in climate sustainability
September 1, 2022 by Alyssa DiSabatinoClimate-friendly impact investments and those promoting resilience to the damaging effects of climate change are environmentally responsible ways for insurers to allocate their capital, suggests one insurance expert. Aside from charging premiums for policies, insurers turn a profit by…
Territory’s 2022 wildfire season has nearly doubled five-year average for area burned
August 30, 2022 by Emily Blake - THE CANADIAN PRESSYELLOWKNIFE – The 2022 wildfire season in the Northwest Territories is shaping up to be one of the most severe in the past five years. “We’re well on our way to doubling our five-year average for area burned,” said Mike…
How much severe weather will cost the Canadian economy by 2050
August 29, 2022 by Jason ContantFloods, storms and droughts could result in a total loss of CAD$139 billion to Canada’s gross domestic product (GDP) between now and 2050, new research found. Total direct losses from 2022 to 2050 are expected to reach $88 billion in…
Will insurers find opportunity in Europe’s need for Canadian LNG and hydrogen?
August 26, 2022 by Philip PoradoCanadian insurers have a future opportunity to cover the infrastructure required for hydrogen energy products, commercial insurance brokers say. For example, if Europe wants its efforts to reduce dependence on Russian natural gas supplies to be successful, it will need…
Grassroots orgs demand insurers withdraw coverage for Trans Mountain Pipeline
August 26, 2022 by Alyssa DiSabatinoLiberty Mutual Insurance is among a list of insurers being asked by grassroots and Indigenous organizations to withdraw insurance support for the Trans Mountain Pipeline, which carries crude and refined oil from Alberta to British Columbia. A petition with more…
Canada is witnessing more thunderstorms than ever before
August 23, 2022 by Gregory Kopp, David Sills and Julian BrimelowThis 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. Residents in eastern Ontario are still recovering after a tornado-producing thunderstorm…
Ontario cheers U.S. bill proposing EV tax credits, but still no local incentives
August 22, 2022 by Holly McKenzie-Sutter THE CANADIAN PRESSPlans to expand a proposed U.S tax credit on electric vehicle purchases to cover North American-made cars is a boon for Ontario’s auto sector, but the province isn’t planning any buyer incentives for local drivers. Ontario’s economic development minister, Vic…
All evacuation orders rescinded for Keremeos Creek wildfire near Penticton, B.C.
August 22, 2022 by The Canadian PressLocal authorities in British Columbia’s Okanagan region say all evacuation orders around the so-called Keremeos Creek wildfire near Penticton have been rescinded. Erick Thompson, an information officer for the Regional District of Okanagan-Similkameen, says this means residents from the last…
Why B.C’s heat dome puts the industry on alert for wildfires
August 18, 2022 by Alyssa DiSabatinoA heat wave building across western Canada and the Prairies could worsen wildfires, which have already burned more hectares this year over last despite fewer fires to date, one industry expert observes. This week, Alberta, British Columbia and Saskatchewan will…
Boat sinks with 10,000 litres of fuel near Canada-U.S. marine border
August 17, 2022 by The Canadian PressVICTORIA – A fishing boat that sank with nearly 10,000 litres of fuel on board near the Canada-U.S. marine border went down in one of the worst possible places for endangered orcas, an ocean pollutants expert says. Peter Ross, a…