Prairie hailstorm tops $230 million in insured damage

TORONTO, Aug. 13, 2015 /CNW/ - Insurance Bureau of Canada (IBC) reports that insured damage caused by the heavy rains, wind and a hailstorm that swept across parts of Alberta and Saskatchewan on July 21 and 22 is estimated at more than $230 million, according to preliminary figures from PCS Canada. Property Claim Services (PCS) is a Verisk Analytics (Nasdaq: VRSK) business.

In Alberta, a tornado was sighted north of Priddis in the Foothills District. Calgary was under a tornado watch and golf-ball-sized hail was also reported in the city. Nickel-sized hail was reported near Water Valley and Cochrane. Wind gusts up to 154 km/hr were reported in Hussar, Pollackville and Cereal.

In Saskatchewan, strong winds brought down trees and utility poles in Regina. Kerrobert, in the west-central area of the province, reported significant damage due to downed trees. Golf-ball-sized hail and heavy rainfall of up to 300 mm/hr were also reported.

"Once again, Alberta and Saskatchewan have been hit with a serious storm," said Bill Adams, Vice-President, Western and Pacific Region, IBC. "In recent years, we've seen first-hand the impact that storms can have. Extreme weather events have been happening more often and with greater force."  

Insurers continue to counsel consumers on the need to understand their risks and take action to reduce their properties' vulnerability to damage. Before another storm hits, consumers should contact their insurance representatives for information about their policies and what types of coverage best suits their individual circumstances.

For more information on home, auto and business insurance, phone IBC's Consumer Information Centre at 1-844-2ask-IBC (1‑844‑227‑5422) or visit www.ibc.ca.

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 in Canada. 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.  

For media releases and more information, visit IBC's Media Centre at ibc.ca. Follow IBC on Twitter @InsuranceBureau and @IBC_West or like us on Facebook. 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

For further information: To schedule an interview, please contact: Celyeste Power, Manager, Media Relations, 416-362-2031 ext. 4312, 647-384-9872, cpower@ibc.ca

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