04:37:10 EST Wed 05 Feb 2025
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Sun Life Financial Inc
Symbol SLF
Shares Issued 579,764,157
Close 2024-07-12 C$ 68.54
Market Cap C$ 39,737,035,321
Recent Sedar Documents

Globe says Intact, rivals mindful of climate change

2024-07-15 08:50 ET - In the News

See In the News (C-IFC) Intact Financial Corp

The Globe and Mail reports in its Monday edition that in addition to last year's storms, the city of Windsor and surrounding area also saw major damaging storms in 2016 and 2017. The Globe's Clare O'Hara writes that for insurers, flooding has become the biggest climate-related risk. The Insurance Bureau of Canada has not seen a widespread pullback for flood coverage in the Windsor region. Many of Canada's largest property and casualty insurers have also confirmed they have not pulled out of the Windsor market for overland flood coverage. However, some companies say there could be situations with individual homeowners where a change in their risk level could change a policy at renewal. Disaster claims in Canada have more than quadrupled over the past 15 years, accounting for $3.1-billion of insured losses in 2023, up from just $400-million in 2008, according to the IBC. Today Windsor residences are the second-highest premium in the province for home insurance. The Globe says Windsor is at the top of the list of Canadian cities to be hit hard by climate change. About 10 per cent of homes in Canada, or 1.5 million, are uninsurable for flood risk today. It is a number that industry experts expect to grow.

© 2025 Canjex Publishing Ltd. All rights reserved.