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New estimate pegs insured damages from Hurricane Fiona at $660 million

By Skye Bryden-Blom Oct 19, 2022 | 1:37 PM

Downed power poles in Pictou County. (CREDIT: Communications Nova Scotia).

New estimates have pegged Hurricane Fiona as Atlantic Canada’s most costly storm causing $660 million in insured damages.

The initial estimates are out from Catastrophe Indices and Quantification Inc. after Fiona swept through the region and Eastern Quebec late last month.

It brought torrential rain and devastating winds when it first made landfall on September 24th. It also knocked out power to more than 500,000 customers in the Maritimes.

“As we begin to see the extent of damages caused by Hurricane Fiona, it is clear that much more needs to be done to enhance our resilience to extreme weather events and build a culture of preparedness moving forward,” says Atlantic Vice-President Amanda Dean with the Insurance Bureau of Canada in a news release. “Climate change is real, and the fatalities, emotional turmoil and financial consequences we’ve witnessed must be a call to action – we must prioritize the protection of all Canadians from the impacts of climate change.”

During the storm’s peak, power outages in Nova Scotia topped 415,000, leaving about 80% of the province without power.

The storm caused more than $385 million in insured damages in Nova Scotia. New Brunswick is reporting over $30 million.

“Many affected residents were located in high-risk flood areas and floodplains where residential flood insurance coverage is not available,” the news release says. “As a result, the overwhelming majority of costs for this disaster will be borne by the government.”

Insurance claims from severe weather have more than quadrupled across Canada since 2008.


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