The Insurance Bureau of Canada (IBC) reported earlier this year that severe weather caused $1.3 billion in insured damage in Canada in 2019, making it the seventh costliest year on record. The IBC noted that no single event caused the high amount paid out for losses in 2019, and instead the losses were attributable to “a host of smaller severe weather events from coast to coast.”

In fact, eight of the 10 costliest years on record for the IBC came in the last decade, with 2016, the year of the Fort McMurray wildfires, the most expensive year ever for insurers.