The biggest natural catastrophe of 2016 was undoubtedly the Fort McMurray wildfire, which necessitated the evacuation of approximately 100,000 people and resulted in $3.7 billion in insurance claims. It was the costliest natural disaster in the history of Canada. Flooding that hit the East Coast over the Thanksgiving weekend also had major consequences, as did the Ontario ice storm and a number of severe hailstorms in the Prairies. The IBC has urged all branches of government to improve natural disaster preparedness and step up the fight against climate change.
“The record damage reported in 2016 is part of an upward trend that shows no signs of stopping,” said Don Forgeron, president and CEO of the IBC. “That is why Canada’s property and casualty insurance industry is calling on governments across the country to come together and implement expansive climate policies that will better prepare Canadians and their communities for when disasters strike.”