2020 Agenda

The Canadian Red Cross is pleased to be hosting the CatIQ Conference Workshop on February 3, 2020. In providing side-by-side case management assistance to disaster impacted individuals and small businesses, we have gained a thorough understanding of the end line costs to Canadians following a disaster event. For those with severe damage/destruction or in complex cases our relationship typically lasts approximately 2-3 years post event and long after any insurance claim closure or DFA assistance being provided. We are excited to share insights on the catastrophic recovery ecosystem based on our data collection of recent Canadian disaster events. Participants will be provided with an overview of insights in the insurance, DFA and construction industries as well as case studies and pain points. Participants will be led in a ‘choose your own adventure’ style exercise to discover the sometimes impossible choices Canadians are faced with due to the catastrophic recovery ecosystem and asked for suggestions to remedy these issues. Based on this data, the Canadian Red Cross will be providing a report on the creation of a national flood insurance program in its role of advocating for individuals and small businesses affected by disasters. The feedback and recommendations of this group will be cited in this report.

The conference will begin with an overview of catastrophes that occurred in 2019. This comprehensive review will include a chronology of events, geographic footprints of impacted areas, related media and insured loss estimates provided by CatIQ.

Corporate leadership is clearly seen as a critical element in responding to the significant economic challenges presented by climate change. Such leadership can serve both as a catalyst for, and in conjunction with, emerging government policies. Barbara Zvan from the Expert Panel on Sustainable Finance will speak to the Panel’s recent thought-provoking recommendations on a national strategy, and Roger Beauchemin, President & CEO of Addenda Capital, will speak to how a progressive insurer and investor is working to leverage its position to address both the risk and opportunity sides of the climate change equation.

As communities continue to be overwhelmed by extreme storms, there is an increasing need to find new solutions to complement traditional ways for managing stormwater and mitigating flooding. This session will discuss the role of new consensus based standards and other similar new methodologies or tools that can add to the existing toolkit of governments and stormwater practitioners to achieve flood resilient design for communities.

We tend to focus on the financial cost of disasters; but so often, the psychological and social costs are forgotten. This session will host speakers from the Canadian Red Cross, Stan Darling Insurance, and Desjardins. The panelists will speak to their experiences during disasters, and will include their best practices for claims teams, homeowners and first responders to overcome the emotional stress of working in and living through these events.

As we near the fourth anniversary of Canada’s costliest disaster, the Fort McMurray wildfire, we will hear experts speak to the rebuild.

This session will review the current practice of risk assessment within the field of emergency management. An expert panel moderated by Professor Aaida Mamuji from the York University Disaster and Emergency Management program will give short presentations:

• Credit Valley Conservation will discuss their “Risk and Return on Investment Tool” for identifying flood risk under current climate and climate change scenarios.
• BCPRiskManagement will discuss methodologies of risk assessment, particularly risk matrix approaches such as HIRA.

The session will conclude with a critical analysis on risk assessment with a focus on the use of flawed risk equations, the importance of rare events, and the need for ethical considerations.

The federal government is undertaking an unprecedented commitment to address flood risk across Canada. Federal Ministers have received formal mandates to complete flood mapping across Canada, introduce new programming on strategic retreat, increase prioritized investments in disaster mitigation, introduce new home retrofits programming for resiliency and energy efficiency and collaborate with the private sector on a high-risk residential flood insurance pool. Federal representatives will describe how the government is tackling these elements of a National Action Plan on Flooding.

As losses due to severe weather become more acute, for several reasons including a warming climate, it will be increasingly necessary for all of society – including the (re)insurance industry - to work together to, among other things, ensure that resilience measures are baked in to where and how we build/rebuild going forward. In this session, we will look at why resilience makes sense from a benefit/cost perspective, looking at the results of analysis which finds that the benefits of adding resilience measures to how we build/retrofit far outweigh the initial costs. The session will then look at what the (re)insurance industry would have to do in order to ensure that resilience is incorporated into insurers claims’ responses by considering the issue of policy wordings and reinsurance considerations and the challenges that surround making this happen.

This panel will feature different views from experts on how Canada can prepare for and increase resiliency to a major earthquake. Charles Scawthorn will speak to the ICLR study on the possible fire damage following a major earthquake in Montreal. We will then hear from Nathalie Sirois of Autorité des marchés financiers (AMF) regarding the results of an extensive study on earthquake risk in Canada which includes exposures, rates, take-up rates, individual policy forms and how fire following is handled. Finally, Greg Lowe from Aon will provide the social, physical and financial resilience lessons learned from the 2011 events in New Zealand and Japan.

After a catastrophic event, the first 48 hours of a carrier’s response is paramount and critical in determining the success of the overall event response. Regardless of past experiences, every event will have unique characteristics based on geographic location, challenges with inspections, severities of losses and the expectations of the communities affected. The panel discussion will look to address the following: the carrier’s perspective - an insurance adjusters’ optimal response, insurance adjuster's perspective – a carrier’s optimal response, and best partnership practices in the first 48 hours.

As Canadians are getting more impacted by catastrophic events, the need for efficient communication tools for preparedness and recovery is increasing. This session will bring together representatives from the insurance community and from local governments to explore existing and emerging communication tools. Our panelists will share their recent hands-on experience on preparedness and protection campaigns, new tools for lines of communication between the insured and their insurance company and post-disaster communication between residents and their local government.

Escalating climate risk across Canada requires a collaborative and systemic national effort to protect Canadian homes and businesses through resilient infrastructure. This effort should both make existing infrastructure resilient to climate risk and should deploy new infrastructure to increase resilience of Canadian communities. Although all orders of government must collaborate in leading this process, there is also a role for the private sector in both sharing risk data, incenting investment through insurance pricing and through partnering in investments. Join leaders in this field for this informative signature panel.

Understanding that severe weather disrupts lives, displaces families and drives financial loss, Roy Wright, President and CEO of IBHS, will discuss the importance of resilience in preventing avoidable damage in the face of wind, wind-driven rain, hail and wildfires. From how wildfires burn to how hail damages a roof, top-tier science delivers actionable insights to mitigate risks. Wright will share how to lead consumers down the path of resilience.