It was the third\u002Dworst year in Canadian history, part of a trend that has seen multibillion\u002Ddollar losses every year since at least 2018
in insured damage caused by extreme weather events across Canada last year, according to the Insurance Bureau of Canada , an industry association representing Canadian insurers.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
At $5.96 billion, 2016 remains the most expensive year for insured losses from extreme weather in Canada, followed by 2013, with losses of $3.87 billion. “Hurricane Fiona is a great example,” he said. “We’ve been hit by hurricanes on the Atlantic coast before, but never have all four provinces been hit at once.”Article content
“What we need are greater investments by governments in risk reduction,” Stewart said, noting the need for investments in flood defences and in retrofits to protect against flood, fire and hail.Article contentfrom the Public Safety Ministry called flooding “the source of Canada’s most common and costly disasters.”national residential flood insurance program
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