Catastrophes and The Insurance Industry
– by Laura Twidle, Director of Catastrophic Loss Analysis, Catastrophe Indices & Quantification Inc. (CatIQ) –
Catastrophes not only disrupt communities and people’s lives, but they also have a major financial toll. In Canada, insured losses due to natural disasters have increased steadily over the past decade, and it is becoming more common for annual insured losses due to catastrophes to exceed $1B.