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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.

Pigeon lakeUnited statesEssex countyDenny thomasMatthew lewisNichola saminatherGraydon smithBrian mcenhillPete karageorgosTravis shawKris bonnDavid richardsSandra zwiersSpecialty risk partners corporationInsurance bureau of canadaAssociation of municipalities ontario