file photo

Saskatchewan and Manitoba have seen a sharp increase in catastrophic weather with insured losses from two days of severe weather climbing above $840 million.

The Insurance Bureau of Canada says according to the latest estimate from Catastrophe Indices and Quantification the storms June 9th and 10th brought tornadoes, hail, damaging winds, torrential rain and flash flooding to communities across both provinces, affecting tens of thousands of residents and businesses.

Aaron Sutherland, Vice-President, Pacific and Western, Insurance Bureau of Canada (IBC) says the frequency and severity of extreme weather have increased in recent years, particularly in Manitoba and Saskatchewan. He believes that trend demands action a retooling of how to better protect communities. He says surging insurance claims are also contributing to pressure on home insurance premiums.

Since 2021, there have been 30 catastrophic weather events in Manitoba and Saskatchewan, resulting in over $2.5 billion in insured losses. That equates to nearly $1,000 in insured losses per person across these two provinces over the past five years – an increase of 140% over the previous five years.