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Cision Canada
25-07-2025
- Business
- Cision Canada
Insured losses from Jasper wildfire rise to just under $1.3 billion
Permitting delays slow rebuilding one year after wildfire EDMONTON, AB, July 25, 2025 /CNW/ - Insured losses from the Jasper wildfire are now estimated to be close to $1.3 billion, according to new data released today by Catastrophe Indices and Quantification Inc. (CatIQ). This is an increase of $80 million over the six-month estimate from CatIQ in January. "One year after the second-costliest fire event in Canadian history, many residents are still working through the process of securing the proper permits to begin reconstruction of their property," said Aaron Sutherland, Vice-President, Pacific and Western, Insurance Bureau of Canada. "Despite delays, residents can rest assured that insurers will stand with them until every claim is closed." The July 24, 2024, wildfire destroyed 358 homes and businesses in the town of Jasper. Today, only 56 (15%) are approved for reconstruction, and only two buildings are currently being rebuilt. "The federal government recently announced that it would be expediting efforts moving forward and providing up to $5 million in additional support to cover the unexpected cost of soil testing and removal. This is a positive move and one that hopefully bolsters reconstruction efforts to begin in earnest," said Sutherland. "There's still a lot of work to do and rebuilding will take time, but there is light at the end of a very long tunnel for Jasper residents who lost so much in the fire. The people of Jasper have shown tremendous resilience, and Alberta's insurers will continue to match that spirit and support their customers every step of the way." Alberta's insurers have been on the ground in Jasper since the first day of the fire and are continuing to provide financial support to residents who lost their homes. Insurers also coordinated and paid for the removal, de-gassing and proper disposal of about 2,300 fridges and freezers ruined by food spoilage due to prolonged power outages during several weeks of the evacuation. This coordinated residential bulk-debris-removal program is helping to reduce costs and speed up recovery in the community. In April, wildfire recovery efforts reached a significant milestone with the completion of the insurer-coordinated debris removal program. Insured damage caused by severe weather events in 2024 surpassed $9.2 billion for the first time in Canadian history (January 2025 estimate was $8.5 billion). Last summer was the most expensive on record in Canada for catastrophic weather events, with 228,000 insurance claims and over $8 billion in insured damage. These events are placing pressure on insurance premiums in Alberta and across the country, and are important reminders of the need to increase investments in resilience and other measures to better protect communities. Governments across Canada have a critical role to play in better protecting Canadians from natural disasters. This includes: Halting the construction of unprotected homes and businesses in high-risk flood and wildfire zones Investing in vulnerable communities to ensure they are FireSmart and better protected against flooding Helping homeowners understand the specific risks they face in their area Subsidizing home retrofits to help reduce exposure to floods and wildfires. Canada also needs a federal coordinating agency to guide emergency preparedness and recovery so that communities across the country don't have to create unique playbooks after each catastrophic event. Every other G7 country has an agency operating in this capacity – it's time for Canada to follow suit and take a proactive approach to emergency management. The amount of insured damage is an estimate provided by CatIQ ( under license to IBC. About Insurance Bureau of Canada Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market. As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow. IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses. For media releases, IN Focus articles, or to book an interview with an IBC representative, visit Follow us on LinkedIn, X and Instagram, and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC. We're here to help. SOURCE Insurance Bureau of Canada
Global News
30-04-2025
- Business
- Global News
Major ice storm causes $342M in insured damages across Ontario and Quebec
The late-season ice storm that swept through parts of Ontario and Quebec has left an astronomical bill in its wake. The Catastrophe Indices and Quantification Inc. estimates that the ice storm at the end of March caused approximately $342 million in insured damage. The storm downed trees and power lines, flooded basements and damaged vehicles, with over 1 million homes and businesses in Ontario and 70,000 in Quebec without power. The Insurance Bureau of Canada said that in some cases, properties were without power for over a week due to strong winds and heavy rainfall that prevented hydro crews from completing necessary restoration work. 'Many people had their lives disrupted and property damaged from this event. Insurers are here to help residents and businesses recover and rebuild from this storm,' said Amanda Dean, vice-president of the bureau for Ontario and the Atlantic region. Story continues below advertisement Dean notes that insurance companies are continuing to work with policyholders impacted by the storm. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Storms of this magnitude can take significant emotional and financial tolls on those affected,' said Dean. The bureau warns that the frequency and severity of flooding and extreme weather in Ontario, Quebec and across Canada continue to increase each year. In 2025, home insurance rates have risen 5.28 per cent, well above the rate of inflation, according to a report published by My Choice Financial, a Canadian insurance aggregator and comparison website. While there are several factors, insurance experts say climate change is a major driving force. The Insurance Bureau of Canada reported record-breaking losses of $8.5 billion paid out in 2024, triple that seen in 2023 and 12 times the annual average between 2001 and 2010. Amid increased risk, the bureau notes that it is collaborating with the provincial and federal governments to try to find solutions to mitigate the risks of severe weather. The bureau is urging all levels of government to take steps to adapt to extreme weather. The bureau's recommendations include no longer building unprotected homes and businesses in high-risk flood and wildfire zones, enhancing flood defences in communities at high risk of flood, helping homeowners understand their risks, subsidizing home retrofits to help homeowners reduce their exposure to floods and wildfires, and investing in improved emergency preparedness, response and recovery capacity. Story continues below advertisement More information on protecting your property from potential risks is available on the Institute for Catastrophic Loss Reduction website.
Cision Canada
30-04-2025
- Climate
- Cision Canada
Ontario and Quebec ice storm causes $342 million in insured damage
TORONTO, April 30, 2025 /CNW/ - A severe ice storm that hit parts of Ontario and Quebec one month ago caused $342 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). This storm resulted in many downed trees and power lines, flooded basements and damaged vehicles. In total, more than one million homes and businesses in Ontario and around 70,000 properties in Quebec experienced power outages. In some instances, properties were without power for over a week due to strong winds and heavy rainfall that prevented hydro crews from completing necessary restoration work. "Many people had their lives disrupted and property damaged from this event. Insurers are here to help residents and businesses recover and rebuild from this storm," said Amanda Dean, Vice-President, Ontario and Atlantic, Insurance Bureau of Canada (IBC). "First responders deserve our appreciation as they worked so diligently to protect lives and properties following this event. Our member insurers are the second responders and have been on the ground since day one. They will continue to work with policyholders whose property was damaged. If you were impacted by the ice storm, it is important to call your insurance provider as soon as possible to start the claims process." The frequency and severity of flooding and extreme weather in Ontario, Quebec and across Canada continue to increase each year. IBC is collaborating with the provincial and federal governments to help find solutions to mitigate the risks of severe weather and outline what governments can do to help build more resilient communities. "Storms of this magnitude can take significant emotional and financial tolls on those affected," added Dean. "As the recovery and rebuilding process moves forward, residents should stay in close contact with their insurance representatives and adjusters. This includes checking in on contractor availability and understanding how it may influence the timing of your claim. Anyone with general auto, home or business insurance questions can also contact IBC's Consumer Information Centre at 1-844-2ASK-IBC or by email at [email protected]." Severe weather is getting worse. And we are all paying the price. To protect Canadians from ever-escalating natural catastrophes, there are meaningful steps that governments can take to adapt to extreme weather. These include no longer building unprotected homes and businesses in high-risk flood and wildfire zones, enhancing flood defences in communities at high risk of flood, helping homeowners understand their risks, subsidizing home retrofits to help homeowners reduce their exposure to floods and wildfires, and investing in improved emergency preparedness, response and recovery capacity. IBC commends the Government of Ontario for its commitment to strengthening emergency preparedness in the province. Rest easier. Know what's covered. Homeowner insurance policies usually cover damage to homes caused by an ice storm, such as: Damage caused by wind and rain Damage caused by flying debris or fallen trees and/or branches Damage to the home and its contents from water entering through openings suddenly caused by wind. Depending on the details of the policy, insurance may also cover additional damage: Water damage in a basement due to sewer backup is only covered if you have purchased specific optional sewer backup coverage. Damage from overland flooding, which occurs when bodies of water such as rivers overflow onto dry land, is only covered if you have purchased specific optional overland flood coverage. However, if you live in a known flood plain, this coverage may not be available. Removing debris (e.g., a downed tree on your property) may be the homeowner's responsibility. Insurance coverage is typically not provided if the property was not damaged. Coverage for ice damming, which can occur when heavy snow buildup melts during the day and refreezes when temperatures drop overnight, is usually optional. Speak to your insurance representative if you are concerned about such loss or damage. Subject to any applicable exclusions, the contents of your refrigerator and freezer may be covered for a specified amount for damage related to food spoilage caused by an accidental power interruption. Check your policy or speak with your insurance representative. In certain circumstances, homeowners who are unable to stay in their homes because of insured damage may be entitled to additional living expenses. Check with your insurance representative to find out what your policy covers. Seasonal or secondary residences Check any seasonal or secondary residences (e.g., cottages) and report any damage to your insurance representative as soon as possible. Policies for these properties may have different coverage or limits than a primary home insurance policy. Review your policy or check with your insurance professional to confirm your coverage. The insured damage estimate is provided by CatIQ ( under licence to IBC. About Insurance Bureau of Canada Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market. As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow. IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses. For media releases, IN Focus articles, or to book an interview with an IBC representative, visit Follow us on LinkedIn, X and Instagram, and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC. We're here to help.
