Climate Risk and Sustainable Finance
Resilient Flood Insurance in the Face of Climate Change
The P&C insurance industry has various opportunities to increase Canada’s resilience to climate change. This project assesses a potential solution that incentivizes investments in flood-protection measures and retrofitting. The expected solution has the benefit to reduce losses at the source, which is consistent with the Sendai Framework for Disaster Risk Reduction (UNISDR), thus reducing claims, variability of claims, and improving the industry’s profitability. The research thus provides a framework to compare the risk/return profiles of these investment opportunities as well as a set of tools to help the P&C insurance industry act at the root of risk, similar to actions taken to reduce fires and car accidents.
Climate Risk and Housing Finance
Département de Mathématiques, Université du Québec à Montréal (UQAM)
Mathieu Boudreault, Jean-Philippe Boucher and Sébastien Raymond, The Cooperators