"TORONTO - Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and potentially claims adjustment delays, according to insurance sector insiders.
The industry depends on teams of insurance adjusters to look into claims and determine the amount of loss, or damages covered by insurance policies. They are a vital cog in a business being stretched thin by mounting claims from homeowners and businesses.
Insurance claims are rising globally as climate change spurs more severe weather, but Canada is particularly at risk as one of the world's most vast and forested lands. Many adjusters are retiring and certifications are different in each province, making it challenging for Canada to handle increased claims, companies, consumers and industry groups told Reuters."
Nivedita Balu and Nia Williams report for Reuters September 3, 2024.
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