Quote:
Originally Posted by Mr.Coffee
Don’t shoot the messenger here and I absolutely hate insurance and how it all works but from what I understand there were a lot of threats and or comments a few months ago about how Alberta was an uninsurable jurisdiction or turning into it or something. So I suspect that underlying this move was a lot of pressure on the UCP to lift caps so they could “be competitive”.
CBC radio had a big chat about this a couple months ago.
Really tough to know what to believe on this one but with the UCP track record it’s probably the wrong move lol
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I mean, sure. Insurance companies cry about this all the time, but is there loss of profits a result of PI claims or property claims.
New article today on this same issue:
https://calgary.ctvnews.ca/extreme-w...stem-1.7120015
Calgary hailstorms cost insurance companies billions a year in property payouts, which are entirely different than injury payouts; and these will only get worse.
I have always said, we will only get serious about climate change when insurance companies stop insuring natural disasters as they increase.