Climate change and extreme weather events, such as wildfires and warmer temperatures, are significantly affecting risks in the Canadian insurance industry. The increased frequency and severity of these events recently has the potential to change how insurance companies underwrite and cover losses relating to wildfires.

In a recent interview with Canadian Lawyer, Alana Scotchmer, a partner in Gowling WLG’s Toronto office, highlighted the growing challenges for Canadian insurers and policyholders. She noted that wildfires now pose a significant threat in certain areas of the country, complicating policies written before these risks escalated dramatically.

“If you live in a high-risk area, or your property is located in a high-risk area, it may be the case that the insurance for these particular perils – where they happen all the time – become so expensive that it's not affordable.”

Click the link below to read the full article, which was also featured in Insurance Business Canada:

About Gowling WLG’s Insurance and Professional Liability Group

Gowling WLG's award‑winning Insurance & Professional Liability Group is based on more than a century of experience representing the insurance industry, combined with a persistent, results-driven approach and an innovative use of technology. As the largest group of its kind in Canada, we're committed to excellence in all of the insurance and professional liability work we do. Learn more.