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Natural disasters: Climate change costing insurers dearly

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By Alain Castonguay | December 30 2022 10:30AM

Flash | INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE (IPCC) | AON | INSURANCE BUREAU OF CANADA (IBC) | INTACT | Special risks | Climate changes | Indemnisation | Claims

Two natural disasters in 2022 have made the list of the 10 worst insured losses in Canadian history.

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Headlines

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Ontario seeks feedback on permanent target benefit pension framework

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Client complaint about forged signature leads to trouble with regulator

INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE (IPCC)

P&C insurers can absorb the costs of Fiona

Peter Routledge aims to address climate and digitalization challenges

The global climate in 2020: Another alarming report

Rising sea levels: An increasingly real threat to coastal cities

AON

Aon says insurance market remains conservative in Canada

Employee healthcare costs to jump by more than $1,000 in 2024 for U.S. companies

Aon publishes cyber resilience report

Steady returns and stronger pension plan positioning

INSURANCE BUREAU OF CANADA (IBC)

Alberta and Prairie storms cause more than $300-million in insured losses

Insurance Bureau of Canada calls on government to address auto theft

Insurance association boosts resources for residents impacted by wildfires

Working group publishes additional commercial data standards

INTACT

PC Insurance and Loblaw aim to expand in auto and home Insurance

Definity releases catastrophe estimates for July and August

Intact publishes estimated catastrophe losses anticipated in Q3

Intact assesses the cost of catastrophic losses at $421M in the last quarter

Special risks

Generalized anxiety disorder prevalence doubles since 2012

Employees with fewer paid days off have higher rates of absenteeism and presenteeism

Ratings and research agency examines post-pandemic mortality assumptions

Swiss Re calls for a rebalancing of the insurance value chain

Climate changes

C.D. Howe fellow argues for political will to address climate adaptation

Munich Re says underwriting matters more as reinsurance capacity recovers

Think tank says new energy efficiency mandates will increase building costs

Climate-related catastrophes pose a risk to the financial services sector

Indemnisation

Credit card fraud leads to three-year license suspension

Digital twin technology lending a hand to the banking, finance and insurance sector

Industry expert publishes global reinsurance outlook

Flipping the perspective on private-payer plans

Claims

Digital advances that aid in estimating insurable values

New research examines the market for flying cars

Canada launches National Adaptation Strategy

United States’ property and casualty industry posts underwriting loss in first quarter