The devastating wildfires in Alberta have not only left people homeless and closed businesses, it has cost Canadian insurers billions of dollars. Since insurance is basically a "pool of funds" that we all pay into when purchasing home, condominium, tenants and business property insurance, each insurance payout across Canada is coming out of that pool.  To make sure that your claims can be met regardless of the scope of payouts, insurance companies must reinsure themselves in case catastrophes strike.  
We fully expect to see premiums increasing next year when insurers see the final numbers on their Canada wide profits or losses.