IBC – Ontario and Quebec Wind and Thunderstorm insured costs over $200 million

TORONTO, July 9, 2012 – Insurance Bureau of Canada (IBC) reports that the estimated insured damage caused by the recent wind and thunderstorm event that hit Ontario and Quebec amounts to more than $200 million.

This is a preliminary estimate 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 storm.

Over a span of four days (May 26-29, 2012) a large storm left a path of destruction in parts of Ontario and Quebec. The areas in and around Thunder Bay and Montreal were the hardest hit. This storm unleashed torrents of water that overwhelmed sewer systems and caused widespread flooding of streets, homes and buildings. There have been reports of flooded basements, flooded businesses and cars submerged under water.

Thunder Bay, Ontario declared a state of emergency after the rainstorm unleashed 91 millimeters on the city over a span of about 18 hours. At one point 71 millimeters fell in the city in less than six hours. In Quebec, in a period of a couple of hours on May 29, the greater Montreal area received between 40 and 80 millimeters of rain.

“Thankfully, there were no serious injuries,” said Ralph Palumbo, IBC’s Ontario Vice-President. “Looking ahead, insurance questions may continue to rise during the claims process. If you can’t, for whatever reason, reach your insurance representative, and you have questions, call our Consumer Information Centre at 1-800-387-2880.”

About Insurance Bureau of Canada

Insurance Bureau of Canada is the national industry association representing Canada’s private home, car and business insurers. Its member companies represent 90% of the 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 $40 billion.

To view media releases and information, visit the media section of IBC’s website at www.ibc.ca and for IBC on Twitter follow @insurancebureau.