Keyword
climate change
Is climate change driving up the risk of wildfires in Canada?
January 8, 2020 Mia Rabson - THE CANADIAN PRESSOTTAWA – 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…
‘Growing cost’ of climate change prompts this insurer to stop covering oil sands
January 2, 2020 by Greg MeckbachThe 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%…
Executive Outlook 2020 | Louis Gagnon, Intact
December 30, 2019 by David GambrillLouis 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…
What the Bank of Canada sees as “transition risks”
November 22, 2019 Ian Bickis - THE CANADIAN PRESSTORONTO – 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…
More insurers may stop covering oil sands: Environmentalist
October 24, 2019 by Greg MeckbachExpect 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…
Another insurer to withdraw coverage from oil sands
October 16, 2019 by Greg MeckbachStarting 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…
How high IPCC says the seas could rise
September 25, 2019 Seth Borenstein - THE ASSOCIATED PRESSNEW 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…
Flood risk awareness: Dialogue around “re-location” has arrived
July 18, 2019 by David GambrillCanadian P&C insurers believe they are starting to make headway with national and provincial governments on the climate change adaptation file. This has put the industry in the thick of a relatively new political dialogue about re-locating Canadians who live…
Why climate change might be worse than you think
June 21, 2019 by Greg MeckbachIf you are using today’s climate models to predict the frequency and severity of tomorrow’s severe weather, your estimates could be off, suggests a recent convocation speaker at a major Canadian university. Recent unusual patterns in the jet stream are…
Is climate change to blame for Alberta wildfires?
June 3, 2019 by Jason ContantIs climate change causing the massive wildfires that are burning out of control in Alberta, which are now reportedly nearing half the size of the 2016 Fort McMurray wildfire? Not on its own, but climate change can mean a fire…
Long-range weather forecast: more flood claims for the P&C industry
April 3, 2019 by Jason ContantCoastal flooding is expected to increase in many areas of Canada, bringing with it increased risk of damage to coastal infrastructure, according to a report released Tuesday by the federal government. “Local sea level is projected to rise, and increase…
What the climate in these Canadian cities could be like in 2080
February 13, 2019 Bob Weber - THE CANADIAN PRESSWondering what your city’s climate will be like in a few decades? Look south – about 1,000 kilometres south, says an unusual new study published Tuesday. That’s the average distance between 540 cities in the United States and Canada and…