The massive floods in British Columbia in November 2021 demonstrated the devastation that natural disasters can cause in Canada. Prior to 2010, it was rare for annual insured losses from natural disasters in Canada to exceed $1 billion, but now insured losses of $3 billion are not uncommon. Canada is expected to become wetter, stormier, warmer and to experience more severe connective storms and wildfires. The Insurance Institute of Canada forecasts that annual insured losses could increase to $5 billion within the next 10 years.