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City's $31M lawsuit against insurers over 2012 flood damage continues

The city of Thunder Bay filed a lawsuit against insurance providers relating to repair costs for the wastewater treatment plan damaged in the 2012 flood and if it does proceed to trial it likely will not be heard before 2026

City plans $23 million debenture to cover 2012 flood repairs

With litigation against its insurer still ongoing, the City of Thunder Bay will take out a $23 million debenture from Infrastructure Ontario to cover 2012 flood repairs.

After COVID revenue collapse, Canadian municipalities face insurance premium spike

After COVID revenue collapse, Canadian municipalities face insurance premium spike Reuters 18 hrs ago By Nichola Saminather © Reuters/CHRIS HELGREN FILE PHOTO: A row of houses under construction is seen at a subdivision near the town of Kleinburg By Nichola Saminather TORONTO (Reuters) - Canadian municipalities reeling from a pandemic-driven hit to revenues are facing an added blow from surging liability insurance costs, forcing them to raise property taxes or even cut services for residents. The increase in premiums, about 20% to 30% in many cases, has been driven by a shrinking pool of insurers, more claims in an increasingly litigious climate and uncertainty around payout amounts.

Canadian Municipalities Face Surging Liability Insurance Costs

Canadian municipalities face insurance premium spike, forcing service cuts, property tax hikes