Canada's top property and casualty insurers have invested more than C$19.5 billion ($14.30 billion) in fossil fuels production at a time when climate change is driving up risks for the industry, according to a report by a shareholder advocacy group.

That's the thing. Once you realize the product is always profit, not insurance, or other widgets, then the seeming contradiction vanishes. They make profit on the insurance. They make profit on the cause of claims so long as it doesn't affect the insurance claims too badly. And even then, they're just gonna increase premiums or outright exit that part of the insurance market. And then the government will have to take over the affected Canadians.