Image: A file image of flooded fields in Sumas Prairie in December, 2025. / BC Govt., Flickr

By Alyssa Conti

INSURANCE TALLY

Flooding caused $74M in damages across Fraser Valley: IBC

Jan 16, 2026 | 8:50 AM

FRASER VALLEY — The Insurance Bureau of Canada (IBC) is calling for more investment in community resilience, as new figures paint a clearer picture of insured losses from this past December’s atmospheric river event in the Fraser Valley.

Estimates from Catastrophe Indices and Quantification Inc. (CatIQ) show $74 million in damage, mostly to homes and businesses across the region, with an additional $16 million in other parts of B.C. and Alberta.

“Severe weather and flooding has once again disrupted the lives of residents and business owners across Southwestern BC and Vancouver Island,” said Aaron Sutherland, IBC vice-president of Pacific and Western.

“Coming just four years after the devastating 2021 floods, this most recent flood damage is a painful reminder of the need to build BC’s resilience and better protect communities from the new weather reality we face.”

The insurer agency says that despite developing a flood management plan after the 2021 flooding in B.C., the strategy remains underfunded.

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“Investing in community resilience and damage prevention is always more cost-effective than paying to rebuild year after year following every disaster,” added Sutherland.

Calls to action include prioritizing funds for flood risk mapping, protective infrastructure, and incentives to help property owners flood-proof their homes and businesses.

“By prioritizing risk reduction and mitigation, the government can increase the number of homeowners that have access to flood insurance, which provides much more robust support than the government disaster assistance that high-risk homeowners are forced to rely on today.”