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flag Canada faced record insured weather losses of $8.5 billion in 2024, driven by severe storms.

flag In 2024, Canada saw record-breaking insured losses from severe weather, totaling $8.5 billion, surpassing the $6 billion record from 2016. flag Major events included a Calgary hailstorm causing $3 billion in losses. flag The Insurance Bureau of Canada warns that these losses could drive up insurance premiums, urging governments to invest in infrastructure and better land-use planning to mitigate future risks.

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