Climate-Fuelled Flooding is Canada’s Costliest and Fastest-Growing Extreme-Weather Challenge, Report Says – The Globe and Mail
Credit: John Lehmann/The Globe and Mail.
Article Synopsis – A new report lists flooding as Canada’s costliest and fastest-growing extreme-weather challenge, with widespread financial implications. “Insurance payouts for catastrophic losses jumped from an average $405-million a year between 1983 and 2008 to a yearly average of $1.8-billion since 2009, with flooding accounting for more than half of the increase.” Major insurers and governments are pushing for better climate preparation in hopes of reducing the costs associated with climate changed-induced extreme weather. To read the actual article click here.