January 13, 2022 (TORONTO) – A storm that moved across eastern Canada from December 11 to 14, bringing strong winds to Ontario and Quebec and heavy rain and wind to parts of the Atlantic provinces, caused over $152 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Damage associated with the storm spanned the region, including reports of flooding and downed trees that caused power outages.
Insured damage caused by December 11–14, 2021 storm, by province
| Province | Insured Loss |
| Ontario | over $100 million
|
| Quebec | over $40 million |
| Atlantic Provinces | under $10 million |
| TOTAL | over $152 million |
"Insured losses related to natural catastrophic events averaged $2 billion per year between 2009 and 2020, compared with an average of $422 million per year in the 1983 to 2008 period," said Craig Stewart, Vice-President, Federal Affairs, Insurance Bureau of Canada (IBC). "The time to act is now. Canada needs to adapt to the reality of severe weather to better protect Canadians from coast to coast to coast."
Taxpayers and insurers share the cost for severe weather damage. For every dollar paid in insurance claims for homes and businesses damaged by severe weather, all levels of government and taxpayers pay much more to repair public infrastructure. Yet Canada still lacks a national climate adaptation strategy with measurable targets and the accompanying investments needed to protect Canadian homes and businesses from natural disasters.
Visit IBC's website for information on how to prepare for a disaster and home flooding mitigation techniques.
The amount of insured damage is an estimate provided by CatIQ (www.catiq.com) under licence to IBC.