Insurance Company Losses Mean Higher Premiums

a man carrying a bagThe storm that raged cross Alberta and the Toronto area caused a great deal of damage in homes that in turn caused a huge loss to insurance companies – the latest to announce its loss was TD Bank. The bad news is that the losses are likely to be passed down to the homeowners in the form of higher premiums.

According to Jamie Sturgeon, “The mounting losses will almost certainly result in pressure on insurers to raise rates on home insurance premiums and seek regulatory approval to lift them on auto coverage.”

You can read the full article here.

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photo by: laverrue

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