Climate patterns & extreme weather

Across Canada, natural catastrophes (excluding fire) have cost $33 billion in insured damages since 1998. In 2022 severe weather in Atlantic Canada alone resulted in $865 million in insured damages. The trend is clear: Canada is experiencing more and bigger floods, wildfires and other natural – all influenced by climate change – costing billions of dollars in property damage and putting lives at risk.

Insurance Bureau of Canada (IBC) and its members are working to prepare our communities now from ever increasing severe weather events, like floods and wildfire. This includes promoting nature-based solutions and working with governments to implement a national high-risk flood insurance program and adaptation strategy to protect people and infrastructure from the dangers of a warming climate.

After attending this webinar, you will be able to:

– Identify trends in extreme weather losses globally and in Canada
– Identify the economic impact of such losses
– Describe current initiatives to build resilience to wind and water losses
– Communicate with customers and clients about wind and water risk, and determine their coverage needs

RECOMMENDED FOR

Everyone in the industry will find value in understanding these changes to the climate in Canada.

– Brokers will benefit by enhancing their communication to clients at the moment of risk assessment, price or claim.
– Underwriters will increase their risk management perspective for positive rate determination.
– Adjusters will have a deeper understanding of the statistics behind the catastrophic weather losses that they deal with.

Presenter: 

Stephen Hiscock,
Manager, Government, and Stakeholder Relations,
Atlantic Region at Insurance Bureau of Canada

Stephen Hiscock is the Manager of Government and Stakeholder Relations, Atlantic Region, at Insurance Bureau of Canada (IBC). By collaborating with government officials and other organizations, Stephen works to ensure the region has a healthy property and casualty insurance market.

Before joining IBC, Stephen was a manager for the Nova Scotia government’s Treasury and Policy Board, where he analyzed policy recommendations for the premier.

Stephen lives in Halifax with his partner, daughter and dog, and enjoys staying fit and reading a wide variety of books, including science fiction and thrillers as well as books about finance and history.

A former family lawyer, Stephen holds a bachelor of arts in political science from St. Mary’s University and a juris doctor degree from Queen’s University.

Date: March 31, 2023
Time: 1:00 – 2:00 p.m. Atlantic Time

Please register with your local Insurance Institute: IINS, IINL, IIPE, IINB

QUESTIONS?
Christine Doucet
E: cdoucet@insuranceinstitute.ca
Education Coordinator
Insurance Institute of Canada