Ontario summer storms caused estimated $340M in insured damages: IBC
Five storms in total were designated as catastrophes
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Five storms in total were designated as catastrophes
Rising insurance rates expected to continue across Canada in wake of a year of extreme fires, storms and floods
According to data from catastrophe loss specialist CatIQ, the 2023 wildfires in British Columbia, Canada have become the 10th largest insurance industry
The blazes caused $720 million in insured damage, $45 million more than was caused during the catastrophic floods of November 2021
Devastating wildfires in the Okanagan and Shuswap areas resulted in $720 million in insured losses, according to estimates from Catastrophe Indices and Quantification Inc.