insuranceClimate change is real and its costs to Canadian homeowners
home insurance cost

Climate change is real and its costs to Canadian homeowners are increasing.

Due to the increase in the severity and intensity of extreme weather events over time, scientists point to global climate change resulting in more flooding and water damage to Canadian homes.


Thirty years ago, insured losses for extreme weather averaged around $400 million a year. Now that average is closer to $1 billion a year. (natural disaster)​​​​​​​​​​​ and the insurer's actuarial is expecting the loss to increase more yearly.

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