Canada wildfires News

Canadian Insured Losses From Catastrophic Events Total C$8.5 Billion in 2024: CatIQ

The magnitude of catastrophic events experienced across Canada in 2024 pushed the insured loss total for the region to C$8.5 billion (US$5.9 billion), according to Catastrophe Indices and Quantification Inc. (CatIQ), Canada’s insured loss and exposure indices provider. In addition …

Drones Offer an Unparalleled View of the Biggest Wildfire Risks

Spotting dead and downed trees that can fuel explosive fires is like searching for a needle in a haystack for forestry crews. Not so for drones, which can survey thousands of acres in a single afternoon, easily accessing landscapes that …

Climate Change Causes 379% Hike in Insured Damages in Canada Over 10 Years: Report

The annual average insurable losses in the last decade increased in Canada by a whopping 379%, when compared to the prior 30-year average, according to an analysis from MyChoice, a Toronto-based insurtech company. The report pointed to statistics from the …

Extreme Canada Weather Causes Record $5.7 Billion Insured Damage

An onslaught of four natural disasters caused C$7.1 billion ($5.3 billion) of insured losses across Canada in just two months — more than any other summer on record. In July and August, a ballistic hailstorm tore through cars and buildings …

Canada’s Insurance Czar Has ‘Harsh’ Message About Climate: You May Have to Move

The soaring cost and difficulty of insuring against climate risks may force people to relocate, the head of Canada’s main financial regulator warned. Rising damages from extreme weather don’t seem to be a regulatory problem, but rather a cost problem, …

Canada’s Wildfire Season Ranks Among Worst but Less Severe Than Feared

With summer drawing to a close in Canada, the 2024 wildfire season is shaping up as one of the most destructive on record, largely due to the devastation caused by a blaze that ripped through a tourist town in the …

Claims From 4 Summer Weather Events in Canada Exceed Prior Year Total: IBC

Four natural catastrophes over four weeks during Canada’s summer season have resulted in about five times the amount of claims than the 20-year average, reported the Insurance Bureau of Canada. About 228,000 home, auto and business insurance claims have been …

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 …

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

Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and potentially claims adjustment delays, according to insurance …

Insured Losses From Canada’s Jasper Wildfire Surpass C$880 Million

This summer’s devastating wildfire in Jasper, Canada resulted in more than C$880 million (US$653.4 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting data provided by Catastrophe Indices and Quantification Inc. (CatIQ). The sudden and intense …