Weather-related insurance claims on rise

Friday, December 17th, 2010 Auto Property

The Canadian insurance industry says property damage claims due to severe weather events are on the rise and the result can only be higher premiums. "Premiums follow claims," says Bill Adams, regional vice-president for the Insurance Bureau of Canada. He says one spike in claims due to a single event would not be enough to make premiums increase, but a sustained increase in claims would eventually have to be covered.

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