Andrew Henry @AndrewHenry@mastodon.energy
Public

Wrote something for the local paper.

With home insurance becoming unaffordable or unavailable in places that had long experience with hurricanes, tornadoes or wildfires it was a matter of time before Canadian homeowners would start to encounter difficulties finding affordable insurance coverage. With increasing flooding, hailstorms and wildfires in 🇨🇦that time appears to have arrived.

A picture of a letter to the editor of the Low Down To Hull and Back News titled, "It's arrived: rising insurance premiums, denial of coverage". ----- Text in image And so it has begun, as was expected. The last few summers were foreshadow. The point when the increasing frequency and destructiveness of extreme weather forces the insurance industry to raise premiums to distressing levels, or to abandon coverage outright, has arrived. Whether it was a derecho, tornado, hail, deluge, or flooding, all together those extremes in 2024 shattered the record for costliest weather-related losses. The consequences of heating the planet cost Canada’s insurance industry over $8 billion last year. One can not expect the insurance industry to bear such losses without raising premiums. This needs to be well understood: A HOTTER ATMOSPHERE HOLDS MORE MOISTURE. Heating the air around a moist object will dry it out. Everyone has shoved wet laundry into a dryer enough times in their lives to have figured out that bit of physics. It also stands to reason that all that extra moisture that hot air soaks up has to go somewhere. Now when it rains it pours, and it blows fiercely too. Which is why half of the $8 billion in insured losses last year were from wind and flooding from remnant hurricanes and storms.
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