TORONTO, Dec. 11, 2012 /CNW/ - For the third time in the last four
years, Insurance Bureau of Canada (IBC) reports that the estimated
insured damage caused by severe weather across Canada has topped $1
These numbers reflect the estimates reported by Property Claim Services
Canada (PCS-Canada), a service that tracks insured losses arising from
catastrophic events in Canada. 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 severe weather events.
The largest of the events in 2012 was the wind, flooding and hail storms
that battered Calgary and surrounding areas this past August. An
update to insured damages pegs that storm now at more than $500
"A number of events hit Ontario. In October, "Superstorm" Sandy, where
rain and winds damaged the U.S. northeast including New York and
Atlantic City, hit across Ontario and Quebec and topped $100 million in
damages. In May, a weather system that hit Ontario and Quebec
resulted in high winds and flooding amounted to $260 million in
damages," says Ralph Palumbo, Vice President, Ontario with IBC.
"These types of weather events can have a devastating impact on
communities, the safety of their residents and the protection of their
property. Individuals and families can prepare themselves and reduce
their vulnerability to severe weather by taking some simple
precautions. IBC.ca has a number of simple tips to help you prepare
for the worst," adds Palumbo.
IBC has made adapting to severe weather a priority, including:
The need to maintain and update infrastructure i.e. sanitary and storm
Educating consumers on how to protect themselves and their properties.
Working with provincial and municipal governments to help develop,
promote and implement adaptation measures.
Earlier this year, IBC commissioned "Telling the Weather Story" - a research paper from Dr. Gordon McBean, which looked at the impact
weather could have in Canada in the future. The report helps
Canadians better understand severe weather as a factor in the
increasing damages to personal and commercial properties that we are
seeing in many parts of Canada.
IBC Senior vice president of Policy and Chief Economist Gregor Robinson
says, "Insurers are seeing the financial impacts of severe weather
first-hand. Canadians are already witnessing the impact of severe
weather in terms of lost lives and injuries, families displaced from
their homes, and towns that are devastated."
IBC is a leader in advocating for adaptation to severe weather. Visit
ibc.ca for a selection of brochures and a section of our website
devoted to providing Canadians with practical tips about how they can
improve their home's resiliency.
A list of the severe weather events in 2012 can be found by clicking
this link http://www.ibc.ca/en/Natural_Disasters/documents/2012_Insured_Damage/CDN_Insured_Damage.pdf
If consumers have insurance related questions, they are urged to contact
their insurance representatives or IBC's Consumer Information Centre in
Ontario at 1-800-387-2880 (Monday to Friday, 8:00 a.m. - 5:00 p.m.).
Data about insured damage is from PCS-Canada. Subscribers to the
PCS-Canada service can access detailed reports by logging on to www.pcs-canada.com.
About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association
representing Canada's home, car and business insurers. Its member
companies represent 90% of the private property and casualty (P&C)
insurance market in Canada. The P&C insurance industry employs over
114,000 Canadians, pays more than $7 billion in taxes to the federal,
provincial and municipal governments, and has a total premium base of
To view media releases and information, visit the Media Centre of IBC's
website at www.ibc.ca.
SOURCE: INSURANCE BUREAU OF CANADA
For further information:
For more information, or to schedule an interview, contact:
Media Relations Officer
Insurance Bureau of Canada
416-362-2031 ext. 4312