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TORONTO — The Insurance Bureau of Canada says this summer time noticed a file variety of insurance coverage claims pushed by 4 main climate occasions and pure disasters over the span of 4 weeks.
It says the trade is addressing round 228,000 claims, a 406 per cent enhance in contrast with the earlier 20-year common, after the flooding in Toronto and elsewhere in southern Ontario, the Jasper wildfire, Calgary hailstorm and flooding in Quebec areas.
Celyeste Power, chief government of the Insurance Bureau of Canada, calls it the “most difficult” summer time ever for these affected by storms and wildfires.
She says the claims course of will take time due to the quantity, together with components similar to Canada’s expert labour shortages and provide chain challenges.
Canada’s residence, auto and enterprise insurers reported 160,000 claims for everything of 2023.
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The bureau says extreme climate in 2023 brought on greater than $3.1 billion in insured injury throughout Canada.
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