The overall cost of this week's flood, including uninsured damage, is expected "to be much more" than $1 billion, given the severe destruction to the city's infrastructure, including transit.
The total cost of Tuesday's flash flood in Toronto could easily surpass $1 billion and the government and homeowners will be paying for most of it.
According to the Insurance Bureau of Canada (IBC), Tuesday's storm is comparable to the historic 2013 flood in Toronto, which resulted in $1 billion in insured residential and commercial damage (adjusted for inflation in 2021) and was among the 10 most expensive natural disasters in Canada.
"It was a similar-sized event as to what we witnessed 10 years ago," said Craig Stewart, vice-president of climate change and federal issues at IBC.
A little over 97 millimetres of rain was reported at Toronto's Pearson airport by Tuesday afternoon. By comparison, Toronto's single-day rainfall record was on July 8, 2013, when 126 millimetres fell at Pearson airport.
But Stewart expects the overall cost of the 2024 flood, including uninsured damage, "to be much more" than $1 billion, given the severe destruction to the city's infrastructure, including transit.
Bu hikaye Toronto Star dergisinin July 18, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Toronto Star dergisinin July 18, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Taking care of business at home
Reds host fellow bubble team Austin, aiming to end woes at BMO Field
King's Plate runner-up vies for $IM at Woodbine
He’s firmly among Canada’s top three-year-olds but My Boy Prince faces a stiff test Saturday at Woodbine Racetrack.
Korda powers early U.S. lead at Solheim Cup
Nelly Korda danced at the urging of teammate Megan Khang as they walked off the first tee together at the Solheim Cup after a pep talk from former U.S. president Barack Obama.
If Dodgers can get playoff relief from Ohtani, they should
When the Dodgers last won the World Series in 2020, the final seven outs were perfectly navigated by a pitcher who had worked out of the bullpen just once that season.
Not alrighty then
How Jim Carrey helped Raptors icon DeMar DeRozan face depression
Latest concussion should be Tua's last
Miami quarterback should retire before life altered forever
Trump or Harris? Putin's preference isn't clear cut
Kremlin's best-case scenario might actually be a contested election
Can joy coexist with suffering?
The idea of coping is central to Annie Baker's 'Infinite Life'
I'll retire when I can't stand to hear my voice'
Superstar singer Andrea Bocelli on his TIFF documentary, his former stage fright and his sadness about Céline Dion's stiff-person syndrome
Condo comes with wrap-around balcony
North York home extends indoor living space to outdoors, overlooks nearby park for $799,900