Severe weather events likely to drive insurance premiums higher
The Insurance Bureau of Canada says severe weather caused more than $3.1 billion in insured damage in 2023, the fourth-worst year on record.
wind storms
Extreme weather risk changing Canada’s insurance industry
Climate change is driving up insurance rates and raising questions about whether private coverage will even be available for some Canadians in the future.
Damages from spring wind storms in Ontario, Quebec now more than $1 billion
Repair bills from the cluster of wind storms that pummeled southern Ontario and western Quebec in May are now over $1 billion, and with contractors stretched thin the recovery will last well into next summer.