On Air Now

Now Playing

JAMIE FINE

IF ANYTHING'S LEFT

Download

Making an Impact

Severe weather has taken its toll on Canada, and insurance companies are ready to share the pain.

The recent wild weather could soon have an impact on your wallet, if it hasn't already, through your insurance rates.

Intact Financial Corporation, one of Canada's largest property insurers, says it has raised premiums upwards of 20% over the last few months as weather-related damage claims have risen.

Weather damages cost the industry $3-Billion in 2013, which is the largest payout in years  That total is also without factoring the December ice storm that caused widespread damage in Ontario, Quebec and the Maritimes.  Insurance companies say it's too early to tell how many millions will be claimed from the ice storm.

But the Insurance Bureau of Canada severe weather seems to be a trend that shows no sign of slowing down.

More from Local News

Comments

Add a comment

Log in to the club or enter your details below.
Rating *

Weather

Recently Played