Municipalities face insurance premium spike, forcing service cuts, property tax hikes
Increases of approximately 20-30% is driven by shrinking pool of insurers, more claims, and uncertainty around payout amounts “TORONTO — Canadian municipalities reeling from a pandemic-driven hit to revenues are facing an added blow from surging liability insurance costs, forcing them to raise property taxes or even cut services for residents.” Excerpt from the Financial Post. To read the complete article, click here.
