“The insurance companies are saying it used to be that the biggest concern they had for a homeowner insurance policy was a fire caused by a malfunction or something within the house, or a burglary. Their biggest costs now are wind/rain-induced events.”
- Gordon McBean, UWO Prof, Institute for Catastrophic Loss Reduction, Canadian Foundation for Climate and Atmospheric Studies, International Council for Science
And by pay, I guess the experts mean higher insurance premiums. How can you insure against the inevitable?