Canada's Skyrocketing Insurance Payouts for Extreme Weather Are Unsustainable. Here's How Ottawa Can Fix It

Canada's skyrocketing insurance payouts for extreme weather are unsustainable. Here's how Ottawa can fix it

The cost of extreme weather on Canadian households and communities is mounting, driven primarily by flooding and wildfire. The financial fallout, writes the authors, is on an unsustainable trajectory.

Canada’s home insurance under pressure as extreme weather costs rise

Canada’s home insurance safety net is starting to fray at the edges as the costs of extreme weather continue to rise. While competition is still healthy, and the country has so far avoided the coverage deserts growing in the United States, insurers are paring back policies in a variety of ways to adapt. Raising premiums above the rate of inflation—sometimes steeply above—has been a common response, but experts say insurers are also increasingly …