Insured losses from severe weather events in Canada fell to $2.4 billion in 2025, down from a record-breaking $9.4 billion the previous year, according to data released by Catastrophe Indices and Quantification Inc.
Despite the two-thirds reduction in costs, the total still makes 2025 the tenth costliest year on record for severe weather-related insured losses in Canada. Events contributing to losses during the year included a late-March ice storm in Ontario and Quebec, wildfires in Flin Flon, Manitoba and La Ronge, Saskatchewan, a July hailstorm in Calgary, severe storms across the Prairies in August and flooding in British Columbia in December.
“Severe weather events continue to intensify,” said Celyeste Power, president and chief executive officer of the Insurance Bureau of Canada in a press release. “Two decades ago, insured losses seldom surpassed $500 million in a year. Today, annual costs exceeding $1 billion have become the norm.”
The release states insured losses from catastrophic weather events and wildfires totalled about $14 billion between 2006 and 2015. Losses totalled about $37 billion between 2016 and 2025.
