Insurance Bureau of Canada says 2022 the third worst year for insured losses in Canadian history
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.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.in May, which caused $1 billion in damages.
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