Extreme weather causes billions in insured losses across Canada

Extreme weather events across Canada have resulted in over $1.8 billion in insured losses in the Canadian Prairies alone. According to CatIQ, ten major weather events impacted the region this summer, with heavy rain and flooding serving as the primary drivers of damage rather than the typical wind, hail, or wildfires.

Edmonton, Alberta, experienced significant impact, recording record rainfall in June and July that caused over $80 million in insured losses. Other major losses occurred in Saskatchewan and Manitoba, where severe storms involving tornadoes and flash flooding led to over $900 million in claims during a single two-day period in June.

In eastern Canada, flooding in the Montreal area has seen its loss estimate rise to CAD 442 million. CatIQ reported that pluvial flash flooding and sewer backups were dominant themes throughout the summer, with Ontario and Quebec recording six major catastrophes that resulted in more than 30,000 personal property claims.

The Insurance Bureau of Canada (IBC) has urged government intervention to help mitigate the country’s increasing exposure to such extreme weather events.