Quebec storms trigger $409M in insured losses, IBC demands action
That pushed June 2026 losses alone past $1.1 billion nationwide, according to the Insurance Bureau of Canada (IBC), drawing on CatIQ estimates.
An updated loss figure for the Quebec event is expected from CatIQ on August 5.
Over the last 20 years, flood and water-related insured losses have increased more than 300% compared with the previous two decades, CatIQ data shows.
In 2024, the province endured flooding driven by the remnants of Tropical Storm Debby, an event the IBC ranked as the costliest severe weather episode in Quebec’s history, with insured damage later pegged at nearly $2.5 billion.
Nationally, severe weather pushed insured losses to a record $8.5 billion in 2024, followed by a further $2.4 billion in 2025.
