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P&C industry active with climate initiatives     © Thompson’s World Insurance News 2009. No reproduction without written consent.     The Insurance Bureau of Canada is hoping data from a new climate change municipal risk assessment tool it is developing will lead governments to better appreciate the value of the p&c industry.     And how that value can be increased through smarter regulation of them.     Zurich president and ceo and member of the bureau’s climate change committee Alister Campbell was speaking at the bureau’s ninth annual regulatory affairs symposium.     “This approach is based on the reality that the risk transfer function we perform is, in fact, a central and essential element in how our modern economy and indeed society functions.”     The regulatory reform battle won’t be won in the next few months.     “But we can improve our chance of coming out ahead in the long run by properly demonstrating to consumers and government how our fact-based and objective approach to risk management delivers value to all stakeholders.”     The tool will improve the industry’s ability to accurately rate and price property risk related to heavy rain and spring thaws.     It allows it to look forward instead of back.     The federal government is providing half the $1m initial funding for a pilot project which will cover 10 to 15 small to mid-sized municipalities in Atlantic Canada and Hamilton, Ont.     More in our November 9 edition        Thompson’s World Insurance News P.O. Box 1027,  Waterloo, Ontario,  Canada  N2J 4S1 Tel: 519-579-2500 Fax: 519-745-7321 mpub@sympatico.ca THOMPSON’S WORLD INSURANCE NEWS , Canada’s only independent weekly for p&c insurance professionals, has been the industry’s most trusted news source since 1988.