2013 insurance payouts highest ever

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The Canadian insurance industry paid out $3.2 billion dollars to policy holders last year making it the worst year ever for insured losses in Canada.

The Insurance Bureau of Canada says the December ice storms in Southern Ontario and Eastern Canada caused more than $200-million worth of insured losses. But the most damage was done during the warmer months.

The largest disaster continues to be the torrential rains and floods that soaked Southern Alberta in June, causing $1.74 billion in insured damage.

The flash floods in Toronto back in July caused an estimated $940 million in damages.

Also, severe thunderstorms in parts of Ontario and Quebec in June and July resulted in about $250 million in insurance payouts.