Insurance bureau: severe weather cost $1.9B in 2018

The Insurance Bureau of Canada suggests climate change is changing the insurance industry.

The association says severe weather caused $1.9 billion in insured damage in 2018.

That’s the fourth-highest amount of losses on record.

Among the payouts was $410 million from an early May windstorm in Ontario and Quebec.

Meanwhile, summer storms across the Prairies rang up $240 million in damage claims.

Bureau spokesperson Craig Stewart is pushing for improved building codes and new infrastructure to protect communities.

He says climate change is costing taxpayers, governments and businesses billions of dollars a year.