Insured damage caused by severe weather events exceeded $2.4 billion in 2025, according to Catastrophe Indices and Quantification (CatIQ). This makes 2025 the tenth costliest year on record for severe weather–related insured losses in Canada. Noteworthy severe weather events in 2025 include the late-March ice storm in Ontario and Quebec, May wildfires in Flin Flon, Manitoba, and La Ronge, Saskatchewan… and December floods in British Columbia. …“Severe weather events continue to intensify. Two decades ago, insured losses seldom surpassed $500 million in a year,” said Celyeste Power, CEO, Insurance Bureau of Canada (IBC). …Between 2006 and 2015, Canada’s annual insured losses due to catastrophic weather events and wildfires totaled $14 billion, adjusted for inflation. By contrast, between 2016 and 2025, annual insured losses due to catastrophic weather events and wildfires totaled $37 billion – nearly tripling the previous decade. The average number of claims have nearly doubled over this same time span.

• Related by Natasha Bulowski in the National Observer: Extreme storms, atmospheric rivers and wildfires drove billions in insured losses last year