Did You Know
The global economic losses from natural catastrophes and manmade disasters in 2016 reached $158 billion, which is “significantly higher” than the $94 billion losses recorded in 2015. Insured losses reached $49 billion, a 48% increase over the previous year’s $37 billion.
Insured losses from natural catastrophes at $42 billion, which is a 41% leap from 2015, but still well below the 10-year annual average of $46 billion.
Man-made disasters also resulted in an additional $7 billion in insurance claims in 2016.
Property claims as a percentage of total claims have risen significantly over the past decade to 30.9%.
In 2015, Canadian Property and Casualty Insurers paid out over $30.3 billion dollars in claims.
Home fires account for 30% of all fires in Canada.
The misuse of candles is one of the major causes of home fires especially during winter and Christmas.