Insured damage from Alberta's August storm tops $100 million

TORONTO, Aug. 25, 2015 /CNW/ - Insurance Bureau of Canada (IBC) reports that insured damage caused by heavy rain, strong winds and a hailstorm that hit southern Alberta on August 4 and 5 caused more than $100 million in insured damage, according to preliminary figures from PCS Canada.* This news comes just weeks after a July storm in Alberta and Saskatchewan was reported as causing more than $230 million in insured damage.

In the August storm, a band of severe thunderstorms moved in and around the Calgary region. Sundre received hail of up to 3.5 centimetres in size, while Calgary, Chestermere and Redwood Meadows were pummelled by hail as large as 4.5 centimetres in circumference. Wind gusts up to 105 km/hr blew through Patricia, while Calgary sustained winds of 50 km/h, with gusts of up to 78 km/hr.

"These storms continue to batter our friends and family and serve as a notice that we need to make sure our insurance policies reflect current conditions and needs," said Bill Adams, Vice-President, Western and Pacific Region, Insurance Bureau of Canada (IBC). "Insurers are here to help you recover from severe weather events like this and also to help you prepare for the next storm."  

Insurers advise consumers of the need to understand their policies and risks to their properties, and to take action to reduce their vulnerability to damage. IBC encourages consumers to contact their insurance representative for information on their policies and what types of coverage best suits their 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.

* Property Claim Services (PCS) is a Verisk Analytics (Nasdaq:VRSK) business.

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 www.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

To schedule an interview, please contact: Celyeste Power, Manager, Media Relations, 416-362-2031 ext. 4312 (office), 647-384-9872 (after hours), [email protected]