Summer of 2024 is now Canada's most destructive season on record for insured losses due to severe weather events, the latest estimates from the Insurance Bureau of Canada show.

Damages for a group of storms and wildfires across the country combined to more than $7 billion in insured losses, topping the $6.2 billion cost of the Fort McMurray, Alta., wildfire in 2016.

That's 10 times higher than the average $701 million per year for severe weather losses between 2001 and 2010, the report said.

"This…