A study done for the Insurance Bureau of Canada says insured damage caused by severe weather events surpassed a record-setting 8 billion dollars last year.
Officials say that shattered the previous mark of 6-billion from 2016, following the Fort McMurray wildfires.
Last year’s destruction is due to wildfires, floods and hailstorms – with the August hailstorm in Calgary the single most-destructive weather event at 3-billion dollars.
The bureau says hundreds of thousands of Canadians were affected by severe weather events – which continue to put pressure on home insurance premiums.
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