More than $45 million (2004 CAD; $41 million USD) in insured damage was reported in Ontario.
Hurricane Andrew, which caused $10 billion in insured damages to homes, led to the bankruptcy of nine small insurance companies and depleted the profits of bigger ones.
Those storms, respectively, caused $425 million and $650 million in insured damages.
The declaration allowed for $46 million in relief for public damages and $265 million for insured damage in the state.
Preliminary estimates put the damage at $85 million in insured and uninsured damages.
But initial estimates put insured damage at $5 billion or less.
The Institute also said another $2 billion to $3 billion of insured damages occurred at off-shore energy facilities.
It is the second most costliest natural disaster in Australian history, causing $1.7 billion in insured damages.
Washington and Oregon suffered a total of $220 million in insured damage according to the Northwest Insurance Council.
It was estimated that the May 22 storms were the state's fourth costliest disaster ever with $147 million in estimated insured damage.