Insurance Companies, Fossil Fuels, and Climate Change: Facts & Figures
Millions in damages from Okanagan and Shuswap fires in British Columbia last year: 720
Millions in damages from April ice storm in Ontario and Quebec last year: 330
Millions in damages from severe storms and flash floods in Ontario last year: 340
% of Northwest Territories population displaced from severe weather last year: 70
Billions of dollars of insured losses from catastrophic damages in 2023: 3.4
% rise in home insurance rates over past 10 years: 73
% rise in home insurance rates this past year: 7.7
% rise in home insurance rates in BC this year: 18
Millions of Canadian households without affordable flood coverage: 1.5
% of Canadian households currently uninsurable against flooding: 6-10
% of Canadians living in a high-risk flood area are unaware of that risk: 94
Number of crowdfunding campaigns for severe-weather over the past five years: 10,000
Global ranking of Canada’s Faifax in fossil fuel underwriting: 6
% of shareholder dividend increase by Fairfax in 2023: 50
Billions of dollars invested in fossil fuels by Canadian insurance industry in 2023: 19.5
Out of the top seven, number of top P&C insurers with a net zero commitment: 5
Out of the top seven, number of top P&C insurers with any restrictions on fossil fuel underwriting: 3
% of shareholder dividend increase in 2023 at Canada’s largest insurer, Intact: 10
Billions of dollars of Intact investments in fossil fuels in 2023: 1.5
Number of houses affected from Desajrdins retreat from flood coverage: 3,000
Millions of dollars Desjardins invests in fossil fuels: 298
• Source: Playing With Fire: Canadian Insurers & Fossil Fuels