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A recent study from Statistics Canada reveals a concerning trend: the escalating frequency of natural disasters in Canada is resulting in billions of dollars in costs for both Canadians and insurance companies. Between 1983 and 2008, insurance companies in Canada typically spent around $400 million annually on catastrophic claims. However, since 2009, this figure has…
Canada's insurance industry is solely responsible for its own solvency, a glaring systemic risk in era of extreme weather events. Read on.
A group representing Canada's insurance industry says the ferocity and frequency of weather events means premiums could rise by as much as 50 per cent.
Officials announced on Thursday that City of Kelowna residents who were forced to flee wildfires that erupted late last week were given the go-ahead to return home.
There's never been a major earthquake in Canada, but a 2011 quake in New Zealand shows even a minor quake can bankrupt insurers