The wildfires in Los Angeles have caused massive devastation over the past two weeks and may end up being the most expensive natural disaster in U.S. history. That will likely increase insurance rates, not just in the United States, but also in Canada.

Salman Farooqui writes for the Globe and Mail’s Report on Business. He explains why American disasters could affect Canadians’ insurance premiums, and how Canada’s insurance industry is adapting to record levels of extreme weather damage.

You can find the Impact Centre for Climate Adaptation’s resources on reducing risks to your home from climate change events: https://www.intactcentreclimateadaptation.ca/

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