Floods like the one in Baie-Saint-Paul, about 90 kilometres northeast of Quebec City, helped drive up insurance claims from extreme weather in 2023 to the fourth-highest total on record, according to a new report by the Insurance Bureau of Canada.
In total, insured losses from extreme weather events exceeded $3 billion in Canada for the second straight year.
The report underscores concerns about the growing economic cost of weather-related disasters made more frequent and severe by climate change — and the rising cost of insurance coverage for homeowners.
In some cases, homeowners are struggling to get coverage at all.
There’s a stupid idea… Ignoring professionals who spend their lives trying to identify and mitigate risk… It’s the same reason you never co-sign a loan for anything – if the bank says someone is at a high risk of default, don’t fucking ignore them, and don’t sign the paperwork.