EDMONTON, July 16, 2015 /CNW/ – Insurance Bureau of Canada (IBC) reports that the hail and windstorms that swept across parts of Alberta, Saskatchewan and Manitoba on June 12 caused more than $45 million in insured damage, according to the preliminary estimate by Catastrophe Indices and Quantification Inc. (CatIQ)*.
The storms brought wind gusting as strong as 116 kilometres per hour, with hail up to 6 centimetres in diameter reported throughout Medicine Hat and surrounding areas. The storm also knocked down and damaged many trees in the area. As many as 4,000 people lost power. Similar to Alberta, Saskatchewan experienced up to 6-centimetre diameter hail, powerful winds and heavy rain. The most significant damage occurred across southern Saskatchewan, in an area from Fox Valley, near the Alberta border, to Carlyle and Storthoaks in the province’s far southeast. Claims were also reported in Manitoba, south of Moose Jaw Saskatchewan, around Lafleche and Assiniboia, and extending eastward to Crane Valley, Ogema, Radville and Pangman.
The majority of claims reported were the result of hail damage to vehicles, residences and commercial buildings.
“We have seen firsthand that, year after year, severe weather events continue to take their toll on Canadians and communities right across the country,” said Bill Adams, Vice-President, Western and Pacific, IBC. “In 2014, weather-related damage in the Prairies alone resulted in more than half a billion dollars in insured losses. The insurance industry continues to speak to all levels of government about the need to continue investing in infrastructure to make communities more resilient to increasingly frequent and severe weather events.”
Insurers continue to provide individual consumers with advice and counsel them on the need to better understand their risks and take action to reduce their vulnerability to property damage. Before storms hit, consumers should proactively contact their insurance representatives for information about their policies and what types of coverage are best suited to their individual circumstances. For more information about home, car or business insurance, phone IBC’s Consumer Information Centre at 1-844-2ask-IBC (1‑844‑227‑5422) or visit www.ibc.ca.
* CatIQ compiles and combines comprehensive insured loss amounts and related information to serve the risk management needs of the insurance and reinsurance industries.
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market inCanada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 118,000 Canadians, pays $6.7 billion in taxes and has a total premium base of $48 billion.
If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC.
If you require more information, IBC spokespeople are available to discuss the details in this media release.
SOURCE Insurance Bureau of Canada