In a letter to Canadian Prime Minister Paul Martin, the Institute for Catastrophic Loss Reduction (ICLR) is urging the federal government to establish a comprehensive strategy on climate change. The ICLR, which was created by Canada’s property & casualty insurers to address severe weather and other catastrophes through research, says climate change is leading to more such weather-related disasters. “The implementation of the Kyoto Accord is a reminder that global warming is increasing the frequency and severity of extreme weather events,” says ICLR executive director Paul Kovacs. “Dangerous weather causes property damage, injuries and fatalities.”Kovacs says the government needs a long-term “national strategy for disaster reduction” in addition to its Kyoto commitments, to strengthen Canada’s ability to withstand severe weather events. This should include a $750 million plan to invest in disaster safety and loss prevention infrastructure, to establish a hazard warning and information system, and to create “a culture of disaster safety and knowledge” amongst Canadians. It should also include investment in disaster loss prevention research and education, the ICLR adds.Kovacs says many groups, including insurers, non-government organizations like the Canadian Red Cross, and many local and provincial governments, are addressing emergency management practices, but federal support is necessary. “Public safety has been identified as a priority for the federal government, and this should include a plan to confront the alarming increase in extreme weather damage,” he says. “It is not possible to stop a storm from striking, but we have the knowledge to prevent it from becoming a disaster.”
Will CrowdStrike event trigger a cyber hard market?
July’s CrowdStrike flawed software update that affected an estimated 8.5 million Windows devices shouldn’t trigger the next cyber hard market or lead to significant rate increases, a cybersecurity expert said during a recent webinar. “I don’t think this one’s going to accelerate a hard market,” said James Burns, head of cyber strategy at CFC. “It […]
By Jason Contant | September 17, 2024
3 min read