Insurer focus on mitigating climate change
One of Canada’s top insurance companies is launching a new initiative focusing on mitigating the impact of climate change. As increased claims from weather-related incidents continues to create challenges for the insurance industry Intact Financial Corp. is pushing the message to householders and businesses that they need to take steps to limit the impact. The Globe and Mail reports that, as world leaders meet in Paris at a climate change summit Monday, Intact will launch a new partnership with the University of Waterloo. The Intact Centre for Climate Adaptation will work with researchers, homeowners and businesses to find practical measures to tackle the issues of climate change. Intact will fund the project with $4.25 million over five years.
Insurance industry needs to do more to attract talent
According to the latest figures from the Bureau of Labor Statistics only 5 per cent of those working in the insurance industry in the US are aged 20-24 while a quarter are over 55; similar demographics exist in other countries. With a large part of the industry approaching retirement there is a clear challenge for insurers to attract fresh talent. Mike McGonigle director of the Insurance & Financial Services Center in the College of Business at New Mexico State University says that the sector needs to do more to reach out to these potential future stars of our industry.
Writing in the Albuquerque Journal he says that the industry needs to go out and find young recruits, at college careers fairs and online, where an increase in frequency and quality of job adverts needs to be addressed. McGonigle says that the key is to challenge the often held belief that the insurance industry is boring and bland; a real turn-off for a generation that is constantly looking for exciting experiences.
Insurer donates cash to help Syrian refugees
ACE Group has announced that its Charitable Foundation has made a $250,000 grant to support the International Rescue Committee’s work to deliver critical and lifesaving aid to vulnerable families fleeing to Europe from Syria and other conflict zones. An additional $30,000 in contributions from ACE employees has been matched dollar-for-dollar by the foundation. ACE’s response to the refugee crisis throughout Europe and the Middle East, including the grant, employee contributions and match, totals nearly $310,000.