While the devastation wrought by Hurricane Sandy is being cleaned up, Canadian insurers are slowly tallying the costs. Damage to areas in Ontario and Quebec is estimated to cost upwards of $100 million. This is much less than the estimated $50 billion in damage to the eastern seaboard of the US.

In addition, the Insurance Bureau of Canada (IBC) has issued a warning for Canadians to be wary when purchasing vehicles from New York or New Jersey. An estimated 230,000 vehicles have been damaged by the flood waters based on recent insurance claims.