Moody's Webinar (1)

Climate Risk Management for Canadian Insurers

Navigating OSFI’s B-15 Guidelines and Regulatory Expectation

June 12, 2024

It is anticipated that 2024 will bring a significant amount of regulatory development for Canadian insurers in relation to climate risk. Listen into this conversation with Moody’s that offers an update on how well insurers are prepared for the upcoming changes and get insights on the best practices for assessing climate risk materiality.

Key Highlights

  • State of the market: Canadian insurers preparedness for B15 – Manifest Climate
  • Key challenges and priorities to address B-15 guidelines for climate risk management: An insurer’s perspective – Manulife
  • Preparing for climate risk materiality assessments: Moody’s
    • Calculating carbon emissions, with a spotlight on PCAF methodology.
    • How to conduct physical risk assessments on multi-asset class portfolios using bottom-up, climate-adjusted credit models.
    • How to conduct top-down climate scenario analysis to help develop a better understanding of the financial impacts of material climate risks. This will include a special focus on short term stresses for the ORSA.

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