Hyped-up, misleading insurance myths about ‘severe weather’ flooding distract us from real problems fpcomment
Flooding and the damage it can cause are of concern for good reason, and we all share the desire to mitigate the losses caused by flooding. However, the contention of Craig Stewart of the Insurance Bureau of Canada in a recent op-ed in these pages, that increases in the frequency and intensity of severe weather are the cause of rising insurance claims, is ill founded.
The accompanying chart shows the trend from Toronto’s Pearson Airport meteorological station. Despite the 2013 extreme, the overall trend is still downward when recent data are considered.
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