Four severe weather events in July and August made 2024 the costliest year ever in terms of insured damage.
Insured losses reached new highs in Canada, but the outlook for insurers remains stable.
Industry association calls on federal government to implement national flood insurance plan.
Insured damages surpass the 1998 ice storm.
Summer 2024’s record-setting insured losses will put pressure on premiums.
This is the second event during the Summer of 2024 where insured damage costs have been estimated at several hundred mil
August estimates will be impacted by weekend flooding in Montreal and Toronto.