NEWS: Canadian insurers face record costs from 2024 extreme weather

Canadian insurers face record costs from 2024 extreme weather

An image obtained from Jasper National Park shows smoke from a wildfire in July 2024.
Photo: Handout / Jasper National Park/AFP
Source: AFP

Damage from extreme weather in Canada last year pushed the bill facing insurers to an unprecedented CAN$8.5 billion ($5.9 billion), the Insurance Bureau of Canada said Monday.

Events that cause significant destruction “are escalating at a shocking rate and Canada is simply not prepared,” said Celyeste Power, president of the IBC, an industry…

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