Canadian Natural Disasters Caused $2.1 Billion in Insured Losses in 2021

"In today's world of extreme weather events, the new normal for yearly insured catastrophic losses in Canada has become $2 billion, most of it due to water-related damage," Craig Stewart, vice president of federal affairs for the IBC, said in a statement.

Canada's climate is warming two times faster than the global average, according to a 2019 report. The rapidly changing climate is also increasing the frequency, intensity and duration of extreme weather events like heatwaves, wildfires and floods. This trend is expected to continue for several decades, even if emissions are reduced globally.

Top Weather Events in 2021

Environment Canada noted that 2021 felt like a year where Canada exceeded the number of records broken in terms of natural catastrophes. The top weather events of 2021, as ranked by Environment Canada, include:

  1. A heatwave that stuck British Columbia in late June, with temperatures reaching nearly 50 C
  2. Flooding that hit British Columbia in November
  3. One of the driest summers in 75 years due to severe droughts across Canada
  4. Wildfires that were out of control in almost every province and territory, with 2,500 more wildfires reported in 2021 than in 2020
  5. Four heat waves in the last year (2021 had the fifth warmest summer in the past 74 years)
  6. Various tornadoes that hit Quebec in June and Ontario in July
  7. The Arctic blast that left parts of Canada in a deep freeze in February
  8. The July hailstorm in Calgary, which led to more than $500 million in insurance claims
  9. Hurricane Larry, which caused widespread power outages in Newfoundland in September
  10. A fast, low-pressure system in January that brought extreme winds of 100 km/h to southern and central Alberta and southern Saskatchewan

Notably, British Columbia was affected by the top five disasters last year, leading Environment Canada to label the province "ground zero for weather catastrophes."

Contact Avant Insurance Brokers Ltd to learn more about being properly insured for possible weather disasters.

More blogs of the same Category

Mar 5, 2024

Industry News

Local Touch, National Strength - Avant joins forces with Navacord

You may have heard about the recent exciting news over at Avant Insurance that we have partnered with Navacord to further grow our reach and increase our resources. We have had many questions over the last few weeks from our team, clients and insurer partners so I thought I would write about our experience and what everyone can expect from Avant Insurance going forward.

Written by

Cole Leitch

Read More
arrow_forward

Jan 8, 2024

Industry News

Safeguarding Your Journey: The Importance of Travel Insurance

Embarking on global adventures is thrilling, but safeguarding your journey is paramount. We unravel the vital significance of travel insurance for Canadian travelers. Discover how this indispensable coverage protects your health beyond borders, secures your finances amidst uncertainties, and safeguards your cherished belongings. Beyond financial coverage, explore how travel insurance offers peace of mind with emergency assistance services anywhere, anytime. Join us on this exploration into the world of travel insurance, ensuring your adventures remain worry-free and memorable. #TravelSmart #StayProtected

Written by

Read More
arrow_forward

Schedule an Appointment

Contact us to schedule an appointment and see how we can provide personalized risk management services to your business or family.