Windstorms that hit southern Alberta in November have caused at least C$200 million [US$195] in insured damage, according to the Insurance Bureau of Canada. However, the estimate is preliminary, based on data from Property Claim Services Canada (PCS-Canada), a service that tracks insured losses arising from catastrophic events in Canada.
The IBC said the data “collected by PCS-Canada confirms that thousands of claims have been filed for damage to homes, cars and businesses in the wake of the storm.
Doug Noble, IBC’s Alberta Vice-President stated: “Thankfully, there were no serious injuries, and insurance should cover most of the damage.” Following the storm, the IBC told affected consumers to contact their insurance representatives as soon as possible to start the claims process. “There is no doubt that we are seeing more and more the impact of severe weather in Alberta,” he added.
The Canadian Province has been particulalrly hard hit by natural catastrophes in recent years. The IBC noted that a summer storm “pummeled Calgary and parts of southern Alberta, Saskatchewan and Manitoba with golf-ball-sized hail resulted in C$185 million [US$180.7 million] of insured damage. In summer 2010, another storm in Alberta resulted in C$500 million [US$488.5 million] in insured damage while deadly windstorms that rolled across the province in summer 2009 resulted in C$360 million [$351.7 million] of insured damage.”
In addition the IBC said that fires had “destroyed much of Slave Lake in May of this year,” causing “more than C$700 million [US$684 million] in insured damage, making it the second costliest insured disaster in Canadian history (after the ice storm that hit Quebec and Ontario in 1998, which cost over C$1.8 billion [US$1.76 billion]).”
Noble highlighted the role played by Canada’s insurers in helping “Albertans repair and recover,” following these disasters. The IBC pointed out that over the past three years Alberta’s insurers have paid out approximately C$2 billion [US$1.954 billion] in damages resulting from five separate disasters.
Source: Insurance Bureau of Canada
Topics USA Profit Loss Windstorm Canada
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