Organizations representing the actuarial profession in Canada and the United States have launched the Actuaries Climate Index (ACI), a quarterly measure of changes in extreme weather events and sea levels. The ACI, available online at ActuariesClimateIndex.org, is an educational tool…
Extreme weather events can be modelled as “independent” by global reinsurers when assessing many of their key aggregate risks around the world, confirmed a new report from Lloyd’s, the world’s only specialist insurance and reinsurance market, and the Met Office,…
MARRAKECH, Morocco – Hot and wild and with an “increasingly visible human footprint” – that’s how the U.N. weather agency sums up the global climate in the past five years. In a report released Tuesday at international climate talks in…
All 10 Canadian provinces and Yukon are not making the grade when it comes to flood preparedness, signalling the need for change, including not allowing municipalities to override provincial or territorial direction on development in flood-prone areas, argues a new…
OTTAWA – A new government report says that by the end of this century a changing climate is expected to at least double the area burned each year by forest fires in Canada. The 2015 annual forest assessment by Natural…
A typhoon with wind gusts up to 210 kilometres per hour is expected to make landfall in Japan Tuesday night local time, Aon Benfield’s Impact Forecasting unit reported Monday. As of Monday morning, Typhoon Lionrock was about 570 kilometers south-southeast…
The world’s insurance industry is inherently susceptible to climate change-related risks. However, being so deeply integrated in society means insurers are well-positioned to promote global resilience to climate change through implementing related risk management and mitigation processes, as well as through continued international collaboration.
Climate change may undermine the soundness of insurers’ current catastrophe models, as well as diminish the effectiveness of existing portfolio diversification and risk transfer practices, suggested a recent report from the Toronto-based Global Risk Institute (GRI). “On the bright side,…
Agriculture and Agri-Food Canada (AAFC) has announced an investment of more than $1.1 million to develop a hydrology model of Manitoba’s Assiniboine River Basin that will help predict the effects of flooding, excess moisture and extreme drought on agriculture lands.…
Canada needs a “thoughtful, sustainable approach” to address losses associated with severe weather, including floods and fires that are expected to become a growing problem in future, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), suggested in…