10: US, Canada BlackOut Incident Insurance Claim – $3 B
An estimated 10 million people in Ontario, Canada and 45 million people in eight U.S. states faced a complete power blackout which lasted for several days. Most famously known as North East BlackOut of Canada, the power supply was shut down for these large areas due to technical issues.
Subsequently, insurance claims over $3 billion were posted and the insurance companies had struggled to clear the payments. Massive business insurance claims were made to cover the loss of revenue caused by grounded flights, broken mobile phone networks, restaurants and factories closure.