Normalized annual insured losses plus adjustment expenses (in 2018 dollars) from extreme weather events in Canada over the period 1983‒2018. Losses are normalized following the approach used in Pielke et al., 2008, Miller et al., 2008, and Pielke et al., 2003, which adjusts for inflation and changes in population and wealth over time. The height of the bars shows the total normalized losses (orange) and real losses (blue), plus expenses from all extreme weather-related events in each year. The solid lines show the estimated upward trend in normalized losses (orange) and real losses (blue), plus adjustment expenses.
Source
Data source: Insurance Bureau of Canada, 2019.
