2023 wildfires were B.C.’s costliest insured event ever at $720M in losses, report says

. Fires in Okanagan and Shuswap regions top Insurance Bureau of Canada’s list of severe weather events.
Two wildfires in B.C.’s southern interior caused more than $720 million in insured losses last year, making them the most costly insured extreme weather event the province has ever seen, according to a new report.
Taken together, the McDougall Creek wildfire in the Okanagan and the Bush Creek East fire in the Shuswap region are now the 10th worst natural disaster for insurance payouts on record in Canada, according to the Insurance Bureau of Canada’s (IBC) annual report for 2023.
“This year’s wildfire season has broken all records in terms of the amount of land burned and damage caused to homes and businesses in B.C.,” Aaron Sutherland, IBC vice-president for the Pacific and western regions, said in a press release.
“The wildfires’ impact is another tragic reminder of the risk B.C. residents face due to climate change and the increasing frequency of natural catastrophes.” Across Canada, the IBC report estimates that natural catastrophes caused more than $3.1 billion in insured damage, making it the fourth most expensive year on record.
“The increasing frequency and severity of climate-related disasters should be of concern to all Canadians, even if they have yet to be directly affected,” Craig Stewart, IBC’s vice president of climate change and federal issues, said in a press release.
While the destructive wildfires that blazed through B.C. caused the most insured damage of any extreme weather event in Canada last year, the list of 2023’s costliest weather events includes everything from ice storms to flooding:
* Okanagan and Shuswap area wildfires, Aug. 15–Sept. 25: $720 million.
* Severe summer storms in Ontario, July 20–Aug. 25: $340 million.
* Spring ice storm in Ontario and Quebec, April 5–6: $330 million.
* Summer storms in the Prairies, June 18–July 26: $300 million.
* Nova Scotia flooding, July 23: $170 million.
* Tantallon, Nova Scotia, wildfire, May 28–June 4: $165 million.
* Winnipeg hailstorm, Aug. 24: $140 million.
* Atlantic Canada cold snap, Feb. 3–5: $120 million.
* Behchokq Yellowknife and Hay River, NWT, wildfires, Aug. 13–Sept. 16:
$60 million…
Source:.cbc.ca/news