TORONTO, Sept. 2, 2014 /CNW/ - Insurance Bureau of Canada (IBC) reports that the preliminary estimate for insured damage caused by heavy rains and flooding in the Burlington, Ontario area in early August was just over $90 million, according to Property Claim Services (PCS).
"This was a horrible situation, but unfortunately one that we are seeing far too often," said Ralph Palumbo, Vice-President, Ontario, IBC. "The insurance industry continues to study the impact of severe weather on our communities and advocates for the need to update infrastructure. We continue to engage consumers on how to protect themselves and their properties and we work with all levels of government to help develop, promote and implement adaptation measures," added Palumbo.
On August 4, Environment Canada issued a series of severe thunderstorm warnings and watches for parts of southern Ontario, including Burlington. During the storm, Burlington received so much rainfall that local highways had to be closed because of flooding in some places, as creeks and rivers throughout the city were inundated and crested at the same time.
IBC encourages consumers to contact their insurance representatives for information about their policies. Consumers can also contact IBC's Consumer Information Centre at 1-800-387-2880 or visit ibc.ca for helpful tips.
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is pleased to celebrate 50 years as a valuable resource for insurance information. Since 1964, IBC has been working with governments across Canada to make our communities safer, championing issues that directly affect Canadians and the property and casualty (P&C) insurance industry. IBC is the national industry association representing Canada's private home, car and business insurers. Its member companies represent 90% of the private P&C insurance market in Canada. The P&C insurance industry employs over 118,600 Canadians, pays more than $7 billion in taxes and levies to the federal, provincial and municipal governments, and has a total premium base of $48 billion.
If you require more information, IBC spokespeople are available to discuss the details in this media release.
SOURCE: Insurance Bureau of Canada
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