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International

Insurer attributes $64-million loss to climate change

June 16, 2017 Reprints

Canada-based insurer Manitoba Public Insurance Corp. said that more than half of its $85.2 million Canada ($64.2 million) net operating loss in 2016 was due to climate change with hailstorms accounting for about CAD $45 million of the losses, Winnipeg Free Press reported. The insurer had suffered a loss of about CAD $31 million in 2015. "For Manitoba, climate change has become synonymous with increasing and unpredictable levels of flooding, fires and severe weather conditions, including snowstorms and hailstorms," the insurer said.

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Insurer attributes $64-million loss to climate change

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