The Dec. 22 ice storm in southern Ontario and eastern Canada resulted in $200 million in insured losses and pushed the year-end severe weather insured loss total to $3.2 billion, which is the highest in Canadian history, reports the Insurance Bureau of Canada (IBC).
The losses of 2013 came after four years in a row of natural disaster losses for the insurance industry that hit the $1 billion mark.
“In 2013, the terrible effects of the new weather extremes hit Canadians hard. From the Alberta floods last summer to the ice storms in Ontario and Atlantic Canada over the holidays, frankly, bad weather hit insurers hard, too,” says Don Forgeron, President and CEO, IBC.
“I’m very proud of how the home, car and business insurance industry performed during these difficult times. We responded quickly to disasters when Canadians needed us most,” Forgeron says.
In the December ice storms that hit southern Ontario and eastern Canada, most of the $200 million in claims were for homes damaged by trees that fell as a result of ice buildup.
Ontario-based insurers also paid more than $25 million in claims for vehicles damaged in the
“Canadian communities are seeing more severe weather, especially more intense rainfall. This overburdens our sewer and stormwater infrastructure, resulting in more sewer backups in homes and businesses,” states Forgeron.
For more information about keeping safe during severe weather, visit ibc.ca.
