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What could drive reinsurers away from some markets

December 10, 2018 by Greg Meckbach

Reinsurance is extremely important but could get too expensive in certain areas, industry leaders said at a recent event. Some insurance companies today are “dialing up their reinsurance protection – property and cat risk in particular in the United States,”

News CatastrophesClimate ChangeReinsurance

What’s making wildfires more severe?

November 12, 2018 By Seth Borenstein - THE ASSOCIATED PRESS

WASHINGTON – Both nature and humans share blame for California’s devastating wildfires, but forest management did not play a major role, despite President Donald Trump’s claims, fire scientists say. Nature provides the dangerous winds that have whipped the fires, and

News CatastrophesClimate ChangeLegislation / Regulation

A new idea to cover basement flooding losses

October 26, 2018 by Greg Meckbach

The money needed to pay homeowners the cost of basement flooding could be raised by suing large oil firms, a politician suggested Thursday. “A lot of people are not going to be able to qualify for private insurance against flooding

News Climate ChangeLegislation / Regulation

Tories call for ‘made-in-Ontario’ climate change adaptation plan

August 21, 2018 by Greg Meckbach

Ontario’s new government is promising to address property risk with a “new climate change plan,” but one of the first things it has done is table legislation scrapping a program that charges people for carbon emissions. “We know that the

News Climate ChangeInsuranceRisk

One Ontario industry vulnerable to weather extremes

July 30, 2018 by Greg Meckbach

If your client is in the food production or distribution field, you might want to consider the impact of extreme weather. “Restaurants do not prioritize purchasing backup generators, or flood or business interruption insurance,” a report presented last week to

News Climate ChangeInsurance

New risks arising from Canadian arctic shipping

July 17, 2018 by Greg Meckbach

As shrinking arctic ice opens up of new shipping routes through Canada’s Arctic Archipelago, this presents challenges for risk managers and insurers, Allianz Global Corporate and Specialty suggests in a report scheduled for release Wednesday. “Arctic ice has been thinning and

Feature Claims CanadaInsurance

Climate change and its effect on insurance claims

December 15, 2017 Neville Bussell

The wildfire insurance losses incurred in Fort McMurray, Alberta in 2016 are the costliest in Canadian history. The fire involved residential property, businesses, municipal property and landscape over an area of 590,000 hectares. The Insurance Bureau of Canada Costs estimated

News Climate Change

Government infrastructure, climate change programs ‘have to merge:’ Chiarelli

April 6, 2017 Greg Meckbach, Associate Editor

Municipalities looking for infrastructure funding from upper levels of government should make sure they have 10-year “asset management” plans, while upper levels of government need to keep in mind greenhouse gas emissions when drawing up their infrastructure plans, Ontario’s infrastructure

News Climate Change

East Anglia prof warns of ‘real major challenge’ in limiting average world temperature increase to 2 Celsius

September 29, 2016 Seth Borenstein - THE ASSOCIATED PRESS

WASHINGTON, D.C. – A team of top scientists is telling world leaders to stop congratulating themselves on the Paris agreement to fight climate change because if more isn’t done, global temperatures will likely hit dangerous warming levels in about 35

News Climate ChangeInsuranceLegislation / Regulation

Ontario Chamber of Commerce urges province to delay carbon cap and trade program

May 13, 2016 Allison Jones - THE CANADIAN PRESS

TORONTO – The Ontario Chamber of Commerce is urging the provincial government to delay the implementation of its cap-and-trade plan for one year, saying key questions remain unanswered. The plan to reduce greenhouse gas emissions is set to take effect