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Regulator expects more frequent volatility in financial sector

September 30, 2021 Ian Bickis - THE CANADIAN PRESS

TORONTO – The head of Canada’s banking regulator warned Wednesday of the potential for increased volatility in the global financial system as risks, especially around climate change and digital finances, are on the rise. “My new responsibility requires that I

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Canada’s warming may hurt access to insurance: DBRS

September 24, 2021 James Langton - Investment Executive

An increase in extreme weather events may threaten the availability of property insurance in Canada, warns DBRS Morningstar in a new report. The rating agency said that Canadian property and casualty (P&C) insurers have, so far, proven resilient in the

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Wildfire and flood disasters are causing ‘climate migration’ within Canada

September 22, 2021 The Canadian Press - THE CONVERSATION

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. ___ Author: Yvonne Su, Assistant Professor in the Department of Equity

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New report sounds the ‘death knell for coal and fossil fuels’

August 9, 2021 Christopher Reynolds - THE CANADIAN PRESS

OTTAWA – The secretary-general of the United Nations says a new report “must sound the death knell for coal and fossil fuels,” raising renewed questions about Canada’s climate plan and the long-term viability of its traditional energy sector. The UN

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Western broker: Don’t chop off the head of oil industry

December 9, 2020 by Greg Meckbach

Although the impact of carbon emissions on climate is a major concern for carriers, western Canadian brokers are concerned about efforts to reduce Canada’s reliance on oil and gas. “Oil and gas is not going away any time soon, and

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IBC’s solution to ‘finger-pointing’ on who should fund climate resiliency

October 14, 2020 by Greg Meckbach

With weather catastrophes costing the industry billions, insurers are calling for a “whole of society” approach to mitigating climate risk. “Some of our insurer members have been on the vanguard of talking about climate change for many many years now.

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The tough question for insurers withdrawing coverage from coal

October 14, 2020 by Greg Meckbach

The industry’s concern over carbon emissions, and their impact on climate change, raises the question of whether nuclear energy is better for the environment. “One the one hand, nuclear [energy] is a source of carbon-free power generation. On the other

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Intact’s plan to help you advise your client on disaster resilience

October 2, 2020 by Greg Meckbach

By the end of this year, Intact Financial Corp. is hoping that a research centre it funds will have trained more than 140,000 brokers, home inspectors, realtors, and other professionals on how to make properties resilient to extreme weather, CEO

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Why Intact predicts sustained hard market in home insurance

June 5, 2020 by Greg Meckbach

Natural disasters like the recent Fort McMurray flooding will likely continue driving home insurance rates up, suggests Intact Financial Corp. CEO Charles Brindamour. “Personal property is in a relatively hard market environment with mid to upper single digit rates increases.

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Another insurer to withdraw coverage from oil sands

October 16, 2019 by Greg Meckbach

Starting 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

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These risks call for better models

May 22, 2019 by Greg Meckbach

Commercial clients need better tools to help risk managers predict their financial exposure to climate change and geopolitical factors, Canadian risk managers say. The risk from climate change “will be pervasive and have a massive impact and it’s something that

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How climate change affects Canada’s hurricane risk

March 21, 2019 Ryan P. Mulligan, Associate Professor in Civil Engineering, Queen's University - 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.     When tropical cyclone Idai made landfall near Beira, Mozambique