Severe weather in Canada caused $3.1 billion in insured damages in 2022

CTV National News: Price tag for hurricane repairs The price tag for repairs related to Hurricane Fiona is estimated to be $800 million. Kyle Moore explains.

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.

That makes 2022 the third worst year for insured losses in Canadian history.

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.

The most expensive extreme weather event for Canada in 2022 was the Ontario and Quebec derecho in May, which caused $1 billion in damages.

The other most expensive events included Hurricane Fiona, which cost $800 million, and the summer storms in Western Canada which cost $300 million.

These are the 10 most expensive natural disasters in Canada as measured by insurance payouts, adjusted for inflation in 2021. This data is from the Insurance Bureau of Canada.

1. Fort McMurray wildfires (2016): $4 billion

2. Eastern ice storm (1998): $2.3 billion

3. Southern Alberta floods (2013): $1.8 billion

4. Alberta hailstorm (2020): $1.2 billion

5. Toronto flood (2013): $1 billion

6. Ontario-Quebec windstorm (2022): $1 billion

7. Hurricane Fiona (2022): $800 million

8. Toronto Flood (2005): $780 million

9. Ontario windstorm (2018): $695 million

10. British Columbia flood (2021): $675 million

This report by The Canadian Press was first published Oct. 19, 2022.