- Reports on the Canadian Insurance industry's performance and growth forecast comparison from August 2025.
- Marsh provides market updates on insurance trends in Canada.
Canadian Home Insurance Costs Rise Sharply Due to Climate Events
What happened
Statistics Canada found that home insurance costs increased nationally by about 45% between December 2019 and the end of 2025. This rise is roughly double the general inflation rate over the same period. Aviva Canada noted that the number of natural disasters in Canada has more than tripled over the last four decades.
From theglobeandmail.com
Why it matters
The primary cause for the rising premiums is the surge in claims from major weather and climate events, including floods and forest fires. Insurance companies pool premiums and pay claims, meaning recent years have presented significant challenges to home insurance underwriting.
Marsh provides market updates on insurance trends in Canada, including reports on the Canadian Insurance industry's performance and growth forecast comparison from August 2025.
From theglobeandmail.com
Who's involved
- AvivaAviva Canada assistant vice-president of property portfolio and exposure management
- Statistics CanadaCanada's principal government institution in charge of statistics and census data
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- AvivaSpeculative
Increased climate claims and rising costs might impact Aviva's underwriting profitability.
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The entities involved
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Aviva
British insurance company
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Statistics Canada
Canada's principal government institution in charge of statistics and census data