Insurance Costs Up $3B On “Unnecessary” Regulations

Homeowners and property managers face the prospect of rising insurance costs beginning in 2015 following an obscure federal order on earthquake reserves. Insurers have been told to set aside billions of dollars in new reserves in case of catastrophic quakes in two regions of Canada. Access to Information documents show insurers privately warn the regulations are costly and needless: “We worry about the impact on consumers”.

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