The Canadian insurance industry says weather events like hurricanes, floods, hailstorms and wildfires have caused the number of natural-disaster claims to more than quadruple since 2008
all reported positive earnings for the first half of 2023. The group of insurers continues to benefit from price increases, less volatile financial markets and higher interest rates, DBRS Morningstar’s head of Canadian insurance, Nadja Dreff, says in a report released this week.
What to know about home insurance if you’ve been displaced by wildfires in B.C., Northwest Territories “We do not anticipate any direct credit rating implications arising from the existing wildfires,” Ms. Dreff said in the report. “However, the wildfire season is not yet over and there is a potential for any of the fires to intensify and further pressure third quarter results, especially if the fires affect densely populated regions, economic hubs, or key infrastructure.”
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