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
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Canadian municipalities face insurance premium spike, forcing service cuts, property tax hikes
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Insurance Costs for Canada s Municipalities Surge as Insurers Exit, Litigation Rises
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After COVID revenue collapse, Canadian municipalities face insurance premium spike
leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.