Keyword
climate change
Climate change expected to push up payouts
December 13, 2021 Philip PoradoIt’s likely Canada’s not fully prepared for flood risks faces today, let alone for what climate change could bring, Judith Ellison, catastrophe modelling manager at JBA Risk Management told a Dec. 2 CatIQ Connect Quarterly session. She noted many properties…
Southwestern N.L. mayor says climate change talks needed after another dump of rain
November 30, 2021 The Canadian PressCHANNEL-PORT AUX BASQUES, N.L. – The mayor of a small town on the southwestern tip of Newfoundland says it’s time to have serious conversations about the impact of changing weather on communities like his, after another night of heavy rain.…
How much Intact has improved its personal property loss ratio
November 15, 2021 by Greg MeckbachAs home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe…
How much are reinsurers underestimating climate change risk?
October 18, 2021 by Jason ContantGlobal reinsurers could be underestimating climate change exposure by up to 50%, according to a recent analysis by S&P Global Ratings. “Our scenario analysis suggests that reinsurers’ estimates of their exposure to natural catastrophe risk — and therefore physical climate…
Canada leads world with pledge to curb methane leaks from oil and gas sector
October 15, 2021 Mia Rabson - THE CANADIAN PRESSOTTAWA – Canada is nearly doubling its target to cut methane emissions from the oil and gas sector as it prepares to sign a new global pledge at next month’s climate talks in Scotland. The colourless and odourless gas amounts…
Montreal-made website uses AI to show impacts of climate change on any address
October 14, 2021 Tara Deschamps - THE CANADIAN PRESSTORONTO – Imagine Parliament Hill blanketed in orange skies, floodwaters climbing the sides of BC Place stadium or a thick layer of smog fogging the view of Halifax from Citadel Hill. These are all scenes depicted on a website published…
How P&C insurers are using their muscle to reduce carbon
June 2, 2021 by David GambrillGlobal P&C insurers are not only setting ambitious carbon reduction targets for themselves, but they are also using their investment clout to restrict cover for high polluters in the oil and gas sectors, a commentary released by DBRS Morningstar Wednesday…
The future of carbon removal insurance: As big as oil and gas?
April 1, 2021 by David GambrillCarbon removal is poised to become a booming industry over the next 30 years, providing an opportunity for innovative P&C insurers to pioneer in carbon removal insurance products, Swiss Re’s chief risk officer predicts. “By 2050, the industry of carbon…
What insurers aren’t passing on to their clients
March 9, 2021 by Adam MalikCanadian consumers are still foggy about the purpose and content of their home, auto and business insurance, and the onus is on the industry to help them understand, a pair of industry executives said during a recent webinar. Discussions with…
Aviva Canada wants to talk to you about reducing your carbon footprint
March 8, 2021 by David GambrillAviva 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…
Why Canada should invest in ‘macrogrids’ for greener, more reliable electricity
February 25, 2021 The Canadian PressThis 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. Authors: Brett Dolter, Assistant Professor, Economics, University of Regina; Blake Shaffer,…
Regulator’s pilot project to start scenario-testing for climate change risks
January 7, 2021 by David GambrillCanada’s solvency regulator has introduced a pilot project in 2021 to conduct scenario testing of the impact of various climate-related risks on financial institutions’ bottom lines. “The first step of the pilot project is to develop a Canada-relevant set of…