Climatologists have long warned that extreme weather, including floods, will become more common as temperatures warm.

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Homeowners falling behind growing threat of climate-related catastrophe

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Canadians aren’t keeping up with the need to protect their homes against catastrophic events made more common by climate change, says a coast-to-coast study from the University of Waterloo.

“Homeowners can do a lot themselves to reduce risk of flooding,” said Natalia Moudrak, study co-author and researcher at the university’s climate adaptation centre.

Climatologists have long warned that extreme weather, including floods, will become more common as temperatures warm.

The Insurance Bureau of Canada reports that insurance payouts from extreme weather have more than doubled every five to 10 years since the 1980s.

The Waterloo study reports that property and casualty payouts averaged about $405 million a year from 1983 to 2008. Since then, payouts have more than quadrupled to $1.8 billion, mostly from flooding.

That’s not inflated by rising real estate values.

“All of this data is corrected for inflation and it’s corrected for wealth creation,” said co-author David Feltmate Thursday. “This is an actual increase in the amount of money being paid out.”

At the same time, the study found a large number of Canadians are vulnerable to flooding. It concluded about 1.7 million households representing about 20 per cent of Canada’s population are at risk.

Repairs can be expensive. The average cost to homeowners for flood damage in the Greater Toronto Area is estimated at $43,000.

And for some, insurance is out of reach.

“Increasingly,” said Feltmate, “people cannot get insurance for their homes because they have experienced one or more floods or they live in an area that’s designated high-risk and the premiums that the insurers would have to charge are off the charts.”

At the same time, householders aren’t doing everything they can to protect themselves and their homes — even when subsidies are available for measures such as sump pumps.

“The uptake for these subsidies is quite low,” said Moudrak. “On average across Canada, the uptake on these subsidies is below 10 per cent, even in the really bad flood-prone areas.”

That’s partly because many of the programs are confusing and difficult to apply for, said Feltmate, although he added municipalities are fixing those problems.

The report points out easy and inexpensive ways to make homes more flood-proof.

Installing a sump pump with backup power is one of the best moves, it says. Backwater valves can prevent nasty backflows from overloaded sewer systems from surging into basements.

The report recommends walking around a house during a rain to see how and where water is draining, then regrading areas where moisture pools near foundations. And leaves should be prevented from plugging street drains.

“Homeowners need to take a more active role in protecting themselves,” Moudrak said.

The report also looks at municipalities. Feltmate said communities are taking steps to adapt to new weather coming with a shifting climate, but the rate of change is outpacing efforts.

“We have an adaptation deficit growing in Canada right now,” he said.

Money laid out ahead of time pays off, said Feltmate. The study suggests every dollar spent on preparing for a flood or other weather catastrophe saves between $3 and $12 in cleanup costs.

“It’s a lot cheaper not to have the problem,” he said.

 

License to operate overtakes digital effectiveness as top risk in mining & metals sector

License to operate rocketed from seventh to first position in the EY Top 10 business risks facing mining and metals in 2019-2020 report, with over half of survey respondents listing it as the number one risk.

“The stakeholder landscape is changing and miners need to adapt,” says Iain Thompson, EY Canada Mining & Metals Advisory Leader. “Rising societal expectations, the impact of new technologies and the desire for greater collaboration are all pushing mining and metals companies to rethink their approach to license to operate. It’s time to move beyond social and environmental issues, and address license to operate more holistically with a purposeful commitment to community, government, employee and environmental needs beyond the mine.”

License to operate climbed the ranking from seventh position in 2018, moving digital effectiveness, maximizing portfolio returns and cybersecurity back a notch.

  • Digital effectiveness is still challenging the mining and metals sector. While miners have begun making headway in using digital tools to improve productivity, they need to apply these solutions across the entire value chain to create a digital mine that can truly transform and emerge as a dominant player in the market
  • Maximizing portfolio returns is becoming more of a balancing act. Higher commodity prices and rising cash flows are pushing miners to assess their capital allocation to ensure highest future returns. Beyond building or acquiring new mines, companies need to consider boosting investments in innovation and transformative technologies
  • Cybersecurity is a growing concern in an increasingly connected world – and the attack surface is only getting larger across physical assets, digital infrastructure and business processes. Cyber spending has increased, but now the focus should be on how cybersecurity will support and enable enterprise growth

“Many of the top risks remain the same going into 2019, but digital disruption is adding new challenges into the mix. Disruption, future of workforce and fraud all entered the ranking for the first time this year,” says Thompson. “To get ahead, miners will need to use capital and collaboration to their advantage as they transform and protect themselves from steady and upcoming business risks.”

Access the full Top 10 business risks facing mining and metals in 2019-2020 report at ey.com/miningrisks.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

For more information, please visit ey.com/ca. Follow us on Twitter @EYCanada.

EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

SOURCE EY (Ernst & Young)

Pario Welcomes Andrew Brown to Calgary Office

Press Release:

Pario Engineering & Environmental Sciences LP (Pario), one of Canada’s top providers of specialized engineering and environmental services to the insurance and risk management industries, is pleased to announce the addition of Mr. Andrew Brown as Regional Manager, Western Canada (Forensic).

Mr. Brown comes to Pario after spending over 38 years providing consultation and forensic investigation for the electrical engineering and scientific fields. During his career, he has been involved in large scale electrical investigations, remediation, electrical accident investigation, application of high voltage techniques, and has managed numerous forensic, consulting, and testing teams operating across Canada, Europe, and America. Mr. Brown’s areas of expertise include electrical failure investigation, fire & explosion, bio mechanical, collision reconstruction, industrial accidents, and slip, trip & fall. forensic and Root Cause Failure Analysis (RCFA), high-voltage electrical engineering, and leadership.

Mr. Brown holds a Higher Technician Diploma (HND) and a Forensic Sciences Diploma. Further, Mr. Brown is registered with the Engineering Council (UK) as a Chartered Engineer (C.Eng),is a Registered European Engineer (EUR ING), andis a Senior Member of the Institute of Electrical & Electronic Engineers (SM IEEE) active on developing a number of IEEE standards. Mr. Brown also holds his IOSH Managing Safely Certificate (UK), JEHSC certification (Canada), and OSHA certification (US).

“We are extremely pleased to welcome Mr. Brown to the Pario team,” says Martin Grech, Senior Vice President of National Operations for Pario. “Mr. Brown’s specialized experience makes him an excellent addition to our roster of specialists. He will be building our Western Engineering team in order to offer our clientele in the region a continued focus on exceptional customer service.”

Based out of Pario’s Calgary location, Mr. Brown can be contacted at 403 228 5800 or cell 403 478 9482, or by email at andy.brown@pario.ca.

For more information, please contact:

Len Copp
President
T: 780.930.5190
E: len.copp@pario.ca
Bikram Daulay
Senior Vice President, Business Development
T: 780.930.5321
E: bikram.daulay@scm.ca

Gallagher Canada Expansion News – Jones Brown Inc.

Arthur J. Gallagher & Co. announced the acquisition of Canadian insurance broker Jones Brown Inc. and its subsidiaries. Terms of the transaction were not disclosed.

Founded in 1997, Jones Brown is a retail property/casualty insurance broker offering a full range of commercial and personal insurance services throughout Canada from offices in Toronto and Hamilton, OntarioCalgary, Alberta; and Vancouver, British Columbia. The Jones Brown team will continue to operate from their existing locations under the direction of Steve Bryant, President of Gallagher’s Canadian retail property/casualty brokerage operations.

“Jones Brown is a highly regarded, well-run broker that brings us complementary expertise, new geographies and a similar company culture,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “I am very happy to welcome our colleagues at Jones Brown to Gallagher.”

“Jones Brown has an outstanding reputation, built around highest quality customer service, innovation and deep insurance expertise,” said Steve Bryant. “This makes them an ideal new partner for Gallagher Canada, and brings tremendous value to our own business and clients across the country.”

Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

SOURCE Arthur J. Gallagher & Co.

http://www.ajg.com

Arthur J. Gallagher & Co. Acquires Jones Brown Inc

Arthur J. Gallagher & Co. today announced the acquisition of Canadian insurance broker Jones Brown Inc. and its subsidiaries. Terms of the transaction were not disclosed.

Founded in 1997, Jones Brown is a retail property/casualty insurance broker offering a full range of commercial and personal insurance services throughout Canada from offices in Toronto and Hamilton, OntarioCalgary, Alberta; and Vancouver, British Columbia. The Jones Brown team will continue to operate from their existing locations under the direction of Steve Bryant, President of Gallagher’s Canadian retail property/casualty brokerage operations.

“Jones Brown is a highly regarded, well-run broker that brings us complementary expertise, new geographies and a similar company culture,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “I am very happy to welcome our colleagues at Jones Brown to Gallagher.”

“Jones Brown has an outstanding reputation, built around highest quality customer service, innovation and deep insurance expertise,” said Steve Bryant. “This makes them an ideal new partner for Gallagher Canada, and brings tremendous value to our own business and clients across the country.”

Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

SOURCE Arthur J. Gallagher & Co.

http://www.ajg.com

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