Canada floods News

Canada’s banking regulator is urging insurers to sell catastrophe bonds for the first time to cut the risk of natural disasters such as the record floods that inundated swathes of downtown Calgary in June. Climate changes are making weather-related losses …

Intact Financial Corp., the largest property/casualty insurer in Canada, will record losses of C$257 million ($248 million) from flooding in Alberta and Toronto, and a train explosion in Quebec. The insurer will post C$123 million in losses, equal to 92 …