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Extreme precipitation events have always occurred, but are they changing?

September 8, 2020 Francis Zwiers, Director, Pacific Climate Impacts Consortium, University of Victoria and Ronald Stewart, Professor, Environment and Geography, University of Manitoba - 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.   Extreme weather and climate events causing extensive damage are a

News Insurance

Climate change creating vast new glacial lakes, future flooding risk: research

August 31, 2020 The Canadian Press

CALGARY – Meltwater from shrinking glaciers is creating vast lakes that could eventually pose an enormous flooding threat, says newly published research. “Unsurprisingly, we found those lakes are growing,” said Dan Shugar, a geographer at the University of Calgary. “What

News CatastrophesClaimsClimate ChangeInsurance

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

News Climate Change

Study: World carbon pollution falls 17% during pandemic peak

May 19, 2020 Seth Borenstein - THE ASSOCIATED PRESS

KENSINGTON, Md. – The world cut its daily carbon dioxide emissions by 17% at the peak of the pandemic shutdown last month, a new study found. But with life and heat-trapping gas levels inching back toward normal, the brief pollution

News Climate ChangeInsuranceRisk

Considering your climate risks? The solvency regulator is, too…

March 3, 2020 by David Gambrill

Climate change risk is very much on the radar of Canada’s solvency regulator. In a mid-February speech to the 17th Annual Review of Insolvency Law (ARIL) Conference in Vancouver, B.C., Jeremy Rudin, Canada’s superintendent of financial institutions, outlined three climate-related

News Insurance

Why insurers aren’t getting much traction with Canadian businesses on climate change

February 13, 2020 by Adam Malik

Canadian industries have a silo-ed approach to preparing for climate change, which is working against the Canadian P&C insurance industry’s desire to address climate change loss exposures and manage catastrophes, a pair of experts told a recent conference. For example,

News Climate ChangeInsurance

Why P&C will need to lead the charge on climate change action

February 12, 2020 by Adam Malik

If recommendations from a report released last year on sustainable finance are going to succeed, the property and casualty insurance industry is going to play a key role in making it happen, said one expert. There is a lack of

News Climate ChangeInsuranceLegal

How climate change may heat up your liability lines

February 7, 2020 by David Gambrill

Look for climate change to heat up Canada’s liability lines over the next 10 years, as lawsuits begin to fly against the alleged corporate perpetrators of greenhouse gas emissions. Climate liability is an emerging risk for Canadian property and casualty

News CatastrophesClaimsClimate ChangeInsuranceRisk

This is how much severe weather claims could cost in 10 years

February 3, 2020 by Jason Contant

Large losses will become larger, and the average annual severe weather claims paid by insurers in Canada could more than double over the next 10 years, according to a new report from the Insurance Institute of Canada. Since 2013, severe

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%

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Executive Outlook 2020 | Louis Gagnon, Intact

December 30, 2019 by David Gambrill

Louis Gagnon, President, Canadian Operations, Intact Financial Corporation I see two very important issues for insurance in 2020 — climate change and our ability to adapt; and cyber risk and the increasing need for protection. These challenges create an environment