Hurricane Fiona Insured Damage Estimate Now Over $800M

Insured damages from Hurricane Fiona are now estimated at over $800 million, according to Catastrophe Indices and Quantification Inc. (CatIQ), as it remains the most costly extreme weather event ever recorded in Atlantic Canada.

CatIQ has reported that the event is now the seventh largest in Canada’s history in terms of insured damages.

Making its first landfall in Atlantic Canada on Saturday, September 24, 2022, with maximum wind gusts exceeding 100 km/h, Fiona resulted in the tragic loss of life, alongside torrential rainfall, large waves, storm surges, downed trees and widespread power outages.

The majority of the increase in insured damages is due to personal property claims, states CatIQ, though it notes that many affected residents were located in high-risk flood areas and flood plains where residential flood insurance coverage is generally not available.