Canada’s 10 Worst Natural Disasters Totaled C$30 Billion in Annual Insured Losses

Insured losses have surged in the past decade as climate change in Canada sparks wildfires, intense hailstorms and thunderstorms with severe flooding in major cities.

Insured losses from natural disasters averaged C$2.2 billion ($1.63 billion) a year over the last decade, far exceeding the previous decade’s average of C$632 million ($468.3 million), according to the IBC, which expects escalating losses to continue.

The wildfire in Canadian tourist destination Jasper this year surpassed C$880 million ($652.1 million) in insured damages, according to initial estimates, IBC said last week.

Related: Canada’s Insurance Sector Faces Deluge of Climate-Related Catastrophe Claims

Here is a list of 10 of the worst annual insured losses recorded in Canada due to weather events.

Source: Insurance Bureau of Canada, CatIQ

(Reporting by Nivedita Balu in Toronto; editing by Jonathan Oatis)

Photograph: A resident of the Timberlea neighborhood sits among the rubble in fire-ravaged Fort McMurray, Altaberta on Thursday, June 2, 2016. (Jason Franson /The Canadian Press via AP)