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# June 6, 2016: French, Australian Insurers Tally Damage and Prepping the the Cascadia Worst Case 
- URL: https://www.riskmarketnews.com/june-6-2016-french-australian-insurers-tally-damage-prepping-cascadia-worst-case/
- Published: 2016-06-06T06:55:24.000Z
- Updated: 2016-06-06T06:55:24.000Z
- Author: Chris Westfall

## Risk Science: What You Need to Read Today

### [Cascadia Rising Doomsday Earthquake Drill to Include U.S., B.C.](http://www.cbc.ca/news/canada/british-columbia/cascadia-rising-earthquake-drill-1.3616078?ref=riskmarketnews.com)

#### [CBC](http://www.cbc.ca/news/canada/british-columbia/cascadia-rising-earthquake-drill-1.3616078?ref=riskmarketnews.com)

The exercise will test how agencies work together when a mega-quake rips along the Cascadia Subduction Zone and unleashes a killer tsunami.

### [Tropical Storm Colin Threatens Florida, Southeastern U.S.](http://www.reuters.com/article/us-storm-colin-idUSKCN0YR0WV?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/us-storm-colin-idUSKCN0YR0WV?ref=riskmarketnews.com)

The storm, expected to hit Florida’s Gulf Coast by Monday afternoon, began drenching parts of the southeastern United States on Sunday.

### [Fort McMurray Wildfire ‘Most Likely Human Caused,’ Alberta Senior Wildfire Manager Says](http://www.theglobeandmail.com/news/national/fort-mcmurray-wildfire-most-likely-human-caused-alberta-senior-wildfire-manager-says/article30279836/?ref=riskmarketnews.com)

#### [Globe and Mail](http://www.theglobeandmail.com/news/national/fort-mcmurray-wildfire-most-likely-human-caused-alberta-senior-wildfire-manager-says/article30279836/?ref=riskmarketnews.com)

The fire was probably the result of human action–a broad category that includes everything from careless ATV drivers to issues with power lines.

### [Goodbye Carbon Footprint? New Climate Risk Tools Take Shape](http://www.institutionalinvestor.com/article/3559799/banking-and-capital-markets-corporations/goodbye-carbon-footprint-new-climate-risk-tools-take-shape.html?ref=riskmarketnews.com#/.V1VPfFd2l5w)

#### [Institutional Investor](http://www.institutionalinvestor.com/article/3559799/banking-and-capital-markets-corporations/goodbye-carbon-footprint-new-climate-risk-tools-take-shape.html?ref=riskmarketnews.com#/.V1VPfFd2l5w)

German Insurers Allianz and other players have developed a new model that seeks to better reflect companies’ adaption of emission rules.

## Risk Business: What You Need to Read Today

### [French Insurers Meet to Assess Worst Floods in 30 Years](http://www.bloomberg.com/news/articles/2016-06-05/worst-in-decades-french-flooding-spurs-insurer-meeting-on-costs?ref=riskmarketnews.com)

#### [Bloomberg](http://www.bloomberg.com/news/articles/2016-06-05/worst-in-decades-french-flooding-spurs-insurer-meeting-on-costs?ref=riskmarketnews.com)

The French insurance-industry association AFA estimated the costs may reach 600 million euros ($682 million) on June 3

### [Worst-Case Scenario: Vancouver Oil Disaster Could Cost $6 billion](http://www.columbian.com/news/2016/jun/05/worst-case-scenario-vancouver-oil-disaster-could-cost-6-billion/?ref=riskmarketnews.com)

#### [The Columbian](http://www.columbian.com/news/2016/jun/05/worst-case-scenario-vancouver-oil-disaster-could-cost-6-billion/?ref=riskmarketnews.com)

Insurance expert testifies to EFSEC that no policy could cover those costs.

### [Insurance Claims From Storms Hit $38 Million](http://www.smh.com.au/business/banking-and-finance/insurance-claims-from-storms-hit-38-million-20160606-gpckbx.html?ref=riskmarketnews.com)

#### [Sydney Morning Herald](http://www.smh.com.au/business/banking-and-finance/insurance-claims-from-storms-hit-38-million-20160606-gpckbx.html?ref=riskmarketnews.com)

Customers in NSW and Queensland have made 11,150 insurance claims over damage caused by the heavy rainfall, storms and flooding.

### [The Innovative Finance Revolution](https://www.foreignaffairs.com/articles/2016-06-05/innovative-finance-revolution?ref=riskmarketnews.com)

#### [Foreign Affairs](https://www.foreignaffairs.com/articles/2016-06-05/innovative-finance-revolution?ref=riskmarketnews.com)

A new model has emerged with collaborations among the private sector, nonprofit organizations, and governments resulting in innovative new approaches to disaster response.