What your clients are reading now

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What your clients are reading now

Trump, climate change and the industry’s performance are this week’s talking points.

Staff on November 9, 2016

The U.S. election understandably dominated this week’s news, as did climate change talks and the performance of the P&C industry. The victory of Donald Trump in the U.S. election could slow progress on climate change, and affect the Canadian economy dramatically — and those concerns dominated news.

What Trump’s victory could mean to Canada’s economy
A Donald Trump administration, combined with a Republican-controlled Senate and House of Representatives, could have reverberations that will be felt by the Canadian economy for years. Plans to build the 1,900-kilometre Keystone XL pipeline from Alberta to Nebraska were thwarted last year under U.S. President Barack Obama. But Trump’s win could breathe new life into the project at a time when Canada’s oilpatch needs it. Trump has said he would “absolutely approve it, 100 per cent.” Canada’s largest trading partner will also soon be led by Trump, who has committed to ripping up NAFTA if it isn’t renegotiated.

Trump win raises questions about UN climate deal The election of a U.S. president who has called global warming a “hoax” alarmed environmentalists and climate scientists Wednesday and raised questions about whether America, once again, would pull out of an international climate deal.

Four out of five SMEs fear impact of climate change on their business
If the U.S. exits climate talks, many clients will be concerned. Almost four-fifths (78%) of SMEs surveyed by Zurich expected risks associated with climate change to have a significant effect on their business. Heavy rain (22%) and droughts (20%) are seen as the most significant climate change risks for small and medium-sized enterprises.

P&C industry will return to sustainable growth: A.M. Best
And in a bit of good news, A.M. Best feels the P&C industry is in good shape.“We don’t expect the model to really change the capital adequacy for the whole industry,” said Edward Kohlberg, an associate director with A.M. Best. “OSFI said it views the industry as well-capitalized right now. But it might make companies look at different business lines and make sure they have enough risk-based capital within each one.”

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What your clients are reading now