Derecho in Canada causes $675M in insured damage

A derecho that swept through southern Ontario and parts of Quebec, Canada, in May caused over CAD $875 million ($675.9 million) in insured damage, according to initial estimates by Catastrophe Indices and Quantification Inc. 

The storm ranks as the sixth-largest in Canadian history in terms of insured losses, the Insurance Bureau of Canada said in a statement Wednesday. 

Property damage in Ontario is estimated at over CAD $720 million, while the storm caused CAD $155 million of estimated damage in Quebec.  

The storm is a “sobering reminder” of the increasing risk climate change poses to communities across Canada, IBC said.