Monday, January 20, 2014
You'll Pay For Climate Change One Way or The Other.
One thing climate change will probably bring you is higher insurance premiums. Last year Canadian insurers forked over $3.2-billion in payouts, a record. For the first time, flooding-related claims exceeded fire losses.
Calgary flooding losses hit $1.7-billion. Toronto's flooding set an Ontario record of $940-million.
Insurance companies aren't in the business of paying out more than they're collecting in premiums so watch for rates to increase.