Severe weather in Canada caused $3.1 billion in insured damages in 2022

The Insurance Bureau of Canada says severe weather caused $3.1 billion in insured damage in Canada in 2022, from flooding to storms to Hurricane Fiona.

That makes 2022 the third worst year for insured losses in Canadian history.

The bureau says no single event or particular region accounted for the majority of the insured damage in 2022, with disasters in almost every part of Canada last year.

That’s in contrast to a year like 2016, the worst year on record primarily because of the Fort McMurray, Alberta wildfire, which accounted for around three-quarters of national losses.

The most expensive extreme weather event for Canada in 2022 was the Ontario and Quebec derecho in May, which caused $1 billion in damages.

The other most expensive events included Hurricane Fiona, which cost $800 million, and the summer storms in Western Canada which cost $300 million.

This report by The Canadian Press was first published Jan. 18, 2023.