A report from the Insurance Bureau of Canada warns that the country's insurance system is under pressure due to increasing wildfire severity and frequency. The IBC urges policymakers to learn from California's recent insurance crisis, which left many homes uninsured. The report highlights a significant rise in insured catastrophic losses in Canada, with Alberta reporting over $1 billion in losses in 2024. The IBC calls for investments in resilience infrastructure, improved land-use planning, and updated building codes to mitigate future risks.
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