The Big One – an earthquake on or near Canada’s west coast registering around 9.0 in magnitude – has the potential to send economic and financial aftershocks all across the country. Such a massive earthquake could cause insurance companies to fail and trigger a domino effect across the financial sector. At present, Canada is not prepared to deal with the consequences.
In this special complementary webinar, find out what rare but major earthquake could do to the insurance industry and broader financial sector. Moreover, gain insight into the measures that could be taken now to mitigate the economic impacts of such a shock. While we cannot prevent earthquakes, we can plan for them – and it is estimated that there is a 30 per cent chance of a major quake on the west coast within the next 50 years.
This webinar is based on a recent Conference Board of Canada analysis, Canada’s Earthquake Risk: Macroeconomic Impacts and Systemic Financial Risk. The objective of the study was to test the capability of the Canadian economy to deal with earthquake risk.