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CatIQ Connect

Registration for the first of CatIQ’s Connect Quarterly Webinar Series has opened. It will run online on October 14, 2020

Toronto, August 18, 2020 – CatIQ and MSA Research are pleased to announce that registration is now open for the first of the Canadian catastrophe conference’s online webinars. The upcoming CatIQ Connect quarterly webinar series will be held in October and December of 2020 and February and June of 2021.

“Given the uncertainty of the global pandemic, we made the decision to host an online quarterly series from October 2020 to June 2021,” said Joel Baker, CEO, of CatIQ and MSA Research “As we all know, catastrophes do not stop for a pandemic, and this year has already been memorable with the impactful Fort McMurray flooding and Calgary hailstorms.” CatIQ Connect is a platform where industry, all levels of government, and academia come together to discuss mitigation and adaptation strategies, technological advancements, and sector perspectives around catastrophe management.

Registration is now open for:

October 14, 2020 – The Financial Sector on Catastrophes & Climate Change

“This forum will examine how banks, insurers and institutional investors are subject to the evolving threat of physical climate change. For those working in the capital markets, the forum will provide practical guidance to limit risk that might otherwise prove challenging to the financial services sector,” says Dr. Blair Feltmate, Head, Intact Centre on Climate Adaptation, University of Waterloo.

The half-day will be capped off with a keynote discussion between Mike Pedersen, Chair of the Business Development Bank of Canada, and Blair Feltmate, Head of the Intact Centre on Climate Adaptation. The pair will focus on the threat of physical climate risk, and how Canada’s banks can provide stability to the Canadian economy.

Session highlights for October 14:
Risks and Opportunities for the Capital Markets with Alyson Slater, Global Risk Institute. Moderator: Andrew Castaldi, PERILS AG

Innovative Insurance Strategies from Low to Middle Income Countries and How to Apply Them in Canada with Kathy Baughman McLeod, Adrienne Arsht–Rockefeller Foundation Resilience Center, Atlantic Council. Moderator: Marjorie Brans, School for Social Entrepreneurs Canada

Evolving Perspectives on the Impacts of Physical Climate Risk for Canada’s Housing Sector with Steve Mennill, Canada Mortgage and Housing Corporation. Moderator: Joanna Dafoe, Insurance Bureau of Canada

Save the dates for the full webinar series line up:
December 3, 2020 – New in Catastrophe Technology & Modelling
February 11, 2021 – Pandemic: One Year Later
June 10, 2021 – Collaborating to Mitigate Loss to Catastrophes and Climate Change

As always, the conference Steering Committee brings together leading organizations concerned with adaptation and management related to Canadian catastrophes, including:

Jim Abraham
President,
ClimAction Services Inc.
Caroline Floyd
Assistant Director of
Catastrophic Loss Analysis, CatIQ
Anthony Black
National Catastrophe Manager,
RSA Insurance Group
Karen Francis
Vice President,
Guy Carpenter
Marjorie Brans
Director of Ecosystem Impact,
School for Social Entrepreneurs Canada
Paul A. MacDonald
EVP, Registrational Insurance,
Economical Insurance
Michael Butler
Senior Business Development Manager-Commercial, ServiceMaster Restore
Glenn McGillivray
Managing Director,
ICLR
Andrew Castaldi
Representative Consultant,
PERILS AG
Dwayne Torrey
Director, Construction & Infrastructure, Standards, CSA Group
Lindsey Collins
Senior Catastrophe Analyst,
Aon
Laura Twidle
Managing Director,
CatIQ
Joanna Dafoe
National Director of Climate Change,
Insurance Bureau of Canada
Rebecca Wagner
Associate Director, Meteorological Service of Canada, Environment and Climate Change Canada
Dipika Deol
Head of P&C Underwriting, Canada and English Caribbean, Swiss Re
Kyle Winston
Co-founder & President,
CRU Group Inc.
Dr. Blair Feltmate
Head, Intact Centre on Climate Adaption, University of Waterloo
Anna Ziolecki
Director,
Partners for Action
Categories
CatIQ Platform

CatIQ Issues Annual Update of Insurance Industry Exposure Database for Canada

Toronto, June 30, 2020 – Catastrophe Indices & Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, today released the annual update of its Canadian insurance Industry Exposure Database (IED), developed with the support of the Canadian P&C industry. The IED now contains 2019 year-end estimates of Canadian industry property sums insured.

As in previous years, the database makes available industry property sums insured, number of risks and prevailing original insurance conditions by:

  • Canada Post Forward Sortation Area (FSA)
  • Peril (windstorm, hail, fire, flood, sewer back-up, earthquake and volcanic eruption)
  • Line of business (personal, commercial, and motor hull)
  • Cover type (building, vehicle, contents, business interruption and additional living expense, where applicable)

Launched in June 2018, CatIQ’s IED is based on detailed exposure submissions from a majority of the Canadian insurance market. Consistent with PERILS’ globally recognized methodology, CatIQ’s IED is updated annually from the ground-up. Also, with the support of the participating insurers, CatIQ produces industry loss estimates at the FSA level as follows:

  • The same perils, lines of business and cover types as listed above
  • Any catastrophe that results in an industry loss greater than C$300 million

This detailed loss dataset is now comprised of three major events, including the 2016 Fort McMurray Wildfire, the 2018 May Windstorm in Ontario and Quebec, and the Ottawa and Gatineau tornadoes of September 2018. The Fort McMurray flooding from this past spring will also be added to the FSA level loss database at the 90-day estimate.

Commenting on the announcement, Joel Baker, CEO of CatIQ, said, “The update of CatIQ’s Canadian IED and Loss platform will provide immense value to insurers, reinsurers, brokers and modelers.” He added that, “the unprecedented level of detail available in the platform supports improved modeling, benchmarking and risk-transfer solutions. The new data combined with the powerful features added in Fall 2018, like the Exposure Map, create an opportunity for the industry to quickly review the exposure to forecasts and more.”

Luzi Hitz, CEO of PERILS, added: “An independent and reliable IED is crucial to understanding the Cat exposure of the Canadian insurance market. CatIQ applies the identical from-ground-up method as PERILS to produce the Canadian IED, namely by collecting sums insured information from the majority of the market each year and by calculating the industry exposure based on the collected data. It is the gold standard of IEDs and enables Cat model validation as well as risk-pricing of industry-loss-based risk-transfer instruments, such as ILWs and Cat bonds. In times of tight retrocession capacity, these industry loss products can be a valid and helpful alternative to traditional retrocession, and CatIQ’s IED and industry losses represent the most professional dataset available for this specialized market.”

CatIQ’s IED module is available on CatIQ’s platform, heralded as the most reliable source of CAT loss information in Canada. Primary insurers participating in the IED program receive the IED module at no extra charge. Furthermore, CatIQ’s Canadian IED and granular loss information is made available on the PERILS platform. In addition to Canada, PERILS’ Industry Exposure and Loss Database covers Australia, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, New Zealand, Norway, Sweden, Switzerland, Turkey, and the United Kingdom.

Categories
Catastrophes CatIQ Connect

CatIQ Connect, Canada’s Catastrophe Conference, described as ‘Where Worst Case Meets Best Practice’

Toronto, February 12, 2020 – The fifth annual Canadian catastrophe conference, CatIQ Connect, was held over three days last week, Feb 3-5, at the Metro Toronto Convention Centre. More than 235 delegates attended the event, including catastrophe risk professionals and emergency managers from across Canada, the United States, the Czech Republic and the United Kingdom. This year featured a great recap of the outstanding initiatives underway across the country, as well as discussions on the work yet to be done.

Delegates participated in a workshop developed by the Canadian Red Cross (CRC) on Feb 3rd. The CRC led the participants through a wildfire simulation to present the challenges faced in a disaster. From the second part of the workshop, the CRC will use the valuable insights from the diverse participants to contribute to their report on the role of a national flood insurance program in assisting individuals and small business affected by disasters.

“As someone who works with the communities most vulnerable to natural disaster impacts, I appreciated learning about the growing challenges facing the catastrophe management industry,” said Marjorie Brans, Director of Ecosystem Impact, School for Social Entrepreneurs Canada. “CatIQ Connect is a critical gathering where industry players can pool their creativity and rise to the challenge.”

Climate change and the need for resilient infrastructure were featured prominently in the conversation, as well as conversations around a high-risk flood insurance pool. “We are entering an unprecedented period of collaboration on climate resilience between the federal government and the insurance sector,” observed Craig Stewart, Vice President Federal Affairs at IBC. “As evidenced by the broad federal representation at this year’s event, CatIQ Connect provided a timely opportunity to share our mutual progress in the interest of consumers.”

Further discussion included how we can become more resilient to different types of severe events, such as earthquakes, wind, hail, flooding, and the mental health impacts of home and business owners, first responders and claims teams. Alister Campbell, President & CEO of PACICC described CatIQ Connect as a forum “where worst case meets best practice!” Having a plan in place before a disaster is important to ensuring a smooth recovery process, and CatIQ Connect supports the collaboration needed in the industry and across sectors.

Over 25 organizations participated as sponsors or partners of the event, including CRU Group, The Co-operators and IBC as Platinum Sponsors. Other sponsors included major reinsurance brokers, reinsurance companies, flood risk organizations, cat modelers, imagery specialists, and restoration and emergency management companies.

The success of the 2020 CatIQ Connect event was driven by the oversight of an outstanding Steering Committee. Representation included:

  • Jim Abraham, President, ClimAction Services Inc.
  • William Belzile, Geographic Information System Advisor, Desjardins General Insurance Group
  • Alister Campbell, CEO, PACICC
  • Claudette Cantin, Chief Actuary and CRO, Munich Re Canada
  • Paul Cutbush, SVP, Catastrophe Management, Aon
  • Esaie Djossou, AVP of Reinsurance, CAT Underwriting, International Underwriting and Data & Insights functions, Aviva Canada
  • Dr. David Etkin, Professor, Disaster and Emergency Management, York University
  • Dr. Blair Feltmate, Head, Intact Centre on Climate Adaptation, University of Waterloo
  • Dr. Maryam Golnaraghi, Director, Climate Change & Emerging Environmental Topics, Geneva Association
  • Sean Hobson, VP, National Programs, WINMAR (Canada) International Ltd.
  • Glenn McGillivray, Managing Director, ICLR
  • Ryaz Mohamed, Director, Corporate Reinsurance, The Co-operators Group
  • Shawna Peddle, Program Director, Community Economic Development Funds, The Co-operators Group
  • Sean Russell, Managing Director, Guy Carpenter
  • Craig Stewart, VP, Federal Affairs, IBC
  • Geneviève Thouin, Project Director, MCIP, FCM
  • Dwayne Torrey, Director, Construction & Infrastructure Standards, CSA Group
  • Laura Twidle, Managing Director, CatIQ
  • Rebecca Wagner, Associate Director, MSC, ECCC
  • Kyle Winston, President, CRU Group Inc.
  • Anna Ziolecki, Director, Partners for Action 

CatIQ Connect will return to the Metro Toronto Convention Centre February 1-3, 2021. View 2020 event photos.

Categories
Catastrophes CatIQ Platform

CatIQ Announces Major Platform Enhancements

Toronto (October 10, 2019) – CatIQ has today announced the implementation of a series of new features on their state-of-the-art platform, which includes the introduction of several powerful visualization tools.

The CatIQ platform houses the Canadian insurance industry’s loss and exposure database, as well as other catastrophe-related information. The platform enhancements make available additional tools for the visualization of pre- and post-catastrophe information and the Industry Exposure Database (IED).

To complement CatIQ’s existing catastrophe forecasts, upgrades to the platform introduce a series of new data feeds from external sources including:

  • Radar and cloud cover
  • Earthquakes
  • Hurricanes
  • Water levels
  • Wildfires
  • Significant weather outlooks

These augmentations provide CatIQ subscribers with quick access to comprehensive datasets to support quick and effective decision-making. IED Subscribers can now visualize industry and their own exposures and measure sensitivity to loss for catastrophe forecasts in real time. Participating primary insurance companies can also visually compare their own exposure to the industry at the FSA level (first three digits of postal code), by business line and peril type.

Commenting on the new platform capabilities, Laura Twidle, Managing Director at CatIQ, said: “Through our CatIQ platform, we aim to provide a one-stop-shop for catastrophe information. Having swift access to a wide range of information to help make informed decisions is critical to all industry stakeholders, and we believe that these platform enhancements enable exactly that.”

A webinar tutorial on the new platform capabilities will be available to CatIQ subscribers on Wednesday, October 30, 2019 at 1 pm EDT. For more information, please contact Laura Twidle at the details listed below.

The first Canadian IED was released in June 2018. The IED now contains year-end data for 2016, 2017 and 2018. The 2019 IED will be released in the spring of 2020.

Categories
CatIQ Connect

Registration for the Fifth Annual Canadian Catastrophe (CAT) Conference has Opened

Toronto (September 11, 2019) – CatIQ is pleased to announce that registration for its fifth annual Canadian catastrophe conference, CatIQ Connect, is now open. CatIQ Connect is being held February 3-5, 2020 at the Metro Toronto Convention Centre.  CatIQ Connect will kick off with a review of the events from 2019, which is sure to be interesting, given the weather activity in 2019 so far.

Canadian insured catastrophic losses have reached nearly $900 million thus far in 2019 and these do not include the impacts from Post-Tropical Storm Dorian according to CatIQ (Catastrophe Indices & Quantification Inc.). Impactful weather events are on the rise, and government and industry must look to implement solutions to mitigate the increasing cost of catastrophes.

CatIQ Connect is a content-driven conference designed to foster collaboration between sectors relating to resilience and recovery in the face of catastrophes. “We are thrilled to be hosting the fifth annual catastrophe conference and, once again, our steering committee has put together a phenomenal agenda,” said Laura Twidle, Managing Director of CatIQ. “The 2020 event will focus on solutions; we want attendees to leave with information on how they can take the next step in mitigating risk and planning.”

CatIQ Connect is designed for:

  • Insurance/Reinsurance Professionals
  • All Levels of Government
  • Academia/Researchers
  • Risk Managers
  • NGO’s
  • Other sectors/organizations dealing with resilience to catastrophes

Keynote:

  • Roy Wright, President & CEO, Insurance Institute for Business & Home Safety (IBHS)

The CatIQ Connect 2020 Agenda features 30+ expert speakers. Highlights include:

  • Interactive Workshop
  • Leadership and Financial Solutions to Climate Change
  • Financing Climate Resilient Infrastructure
  • The War Story – 48h Post-CAT
  • Resilience: The Whys and Hows
  • Mental Health and Disasters
  • The Fort McMurray Rebuild
  • Different Views of Earthquake
  • Communication Tools for Preparedness and Recovery
  • Flood Resilient Design for New Residential Communities
  • Governmental Views on Moving Out or Staying Put
  • Risk Assessment – The Good, the Bad and the Ugly

Save $100 by registering early and save a further $100 per person by registering three or more at https://connect.catiq.com  

Once again, this year’s Steering Committee includes leading organizations concerned with adaptation and management related to Canadian catastrophes, including:

Jim Abraham
2020 Co-emceeand President, ClimAction Services Inc.
Glenn McGillivray
Managing Director,ICLR
William Belzile
GIS Advisor, Desjardins General Insurance Group
Ryaz Mohamed
Director, Corporate Reinsurance, The Co-operators Group
Alister Campbell
CEO, PACICC
Shawna Peddle
2020 Co-emcee and Director, Disaster Risk Reduction, Canadian Red Cross
Claudette Cantin
SVP, Chief Actuary and CRO, Munich Re Canada
Sean Russell
Managing Director, Guy Carpenter
Paul Cutbush
SVP Catastrophe Management,Aon Benfield Analytics
Craig Stewart
VP, Federal Affairs, IBC
Esaie Djossou
AVP of Reinsurance, CAT Underwriting, International Underwriting and Data and Insights functions, Aviva Canada
Genevieve Thouin
Project Director, MCIP, FCM
Dr. Blair Feltmate
Head, Intact Centre onClimate Adaption,University of Waterloo
Dwayne Torrey
Director, Construction & Infrastructure,Standards, CSA Group
Dr. Maryam Golnaraghi
Director, Climate Change and Emerging Environmental Topics, The Geneva Association
Rebecca Wagner
Associate Director,Meteorological Service of Canada, Environment and Climate Change Canada
Sean Hobson
VP, National Programs, WINMAR (Canada) International Ltd.
Kyle Winston
Co-founder & President,CRU Group Inc.
Anna Ziolecki
Director, Partners for Action>