Madam Speaker, I would gently remind the member for Mission—Matsqui—Fraser Canyon that Ottawa Centre is the number one riding in Canada, and I am so glad that he is here, in my riding, at this moment. In all seriousness, I want to thank him for his continued advocacy on behalf of his constituents on this matter.
We know that November's flooding had a life-altering impact on many in British Columbia, and our thoughts continue to go out to everyone affected. The severity of this event is already clear. While we still do not have final estimates of the damage, the Insurance Bureau of Canada, or IBC, has estimated that the insured cost of November's floods is $515 million, the single most costly severe weather event of 2021.
Not too long ago, this would have been seen as a once-in-a-decade or a once-in-a-century type of event, but the science is clear that the impacts of climate change are real and becoming increasingly more severe. According to the IBC, of Canada's most costly years on record for natural disaster-related damages, four of the top five years occurred within the last decade. Our government knows that, in this changing environmental context, we need to not only help people build back, but also build back in a better way that creates local resiliency and protects communities for many more years to come.
That is why out government has set up a joint committee with the Province of British Columbia, co-chaired by the federal Minister of Emergency Preparedness and his provincial counterpart, Minister Farnworth. This climate disaster resilience committee, which is composed of federal and provincial ministers, is working closely together and with indigenous leadership to provide immediate and ongoing support to the people of British Columbia. This committee will collaborate to build back in a way that better protects British Columbians from future climate events, creates cleaner and healthier communities, and supports Canada's efforts in reaching our climate goals.
Work is also already under way with the province on a request for financial assistance through the disaster financial assistance arrangements, also known as DFAA. Under the DFAA, the federal government cost shares up to 90% of all eligible disaster response and recovery costs with provinces and territories. The DFAA also offers an additional 15% top-up for mitigation enhancements or innovative recovery activities that increase future resilience.
As I have previously mentioned in this House, we received an initial request from British Columbia in November. Officials are fully engaged as we await further estimates on costs from the province. I would also like to take a moment to acknowledge the extraordinary generosity Canadians have shown in response to this disaster. In the aftermath of the event our government made a swift announcement that we would be matching every dollar Canadians donated to the Red Cross B.C. flood response fund. With the province's contribution, that meant that every dollar Canadians donated turned into three dollars for those most heavily impacted by November's disaster.
By the time the program ended in December, thanks to the generosity of Canadians, just under $90 million total has been raised, and I am pleased to inform my hon. colleague that the Red Cross has already distributed over $17 million in evacuation-related financial assistance to more than 7,200 households. The Red Cross continues to undertake the critical work providing recovery support to those who are the most in need.