Alberta Storm Damages Growing

There is new data from Insurance Bureau of Canada (IBC) on the estimated insured damages caused by the two most recent serious storms in Alberta. Combined, these two storms amounted to over an estimated $200 million in insured damages.

The larger of the two storms occurred August 12th when large hail pelted parts of the region around Calgary during a severe thunderstorm. There were reports of hail five to six centimeters in diameter in some cases. The storm also brought heavy rain and ensuing flooding.

The second event hit southern Alberta late in the day on July 26th. The fast moving hailstorm damaged cars and homes and left a path of damage from the town of Cardston to Nanton.

These figures are preliminary 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 storm.

Coupled with a report from Edmonton following a wind and rain event in early July, the three occurrences exceed $300 million in insured losses for 2012 alone. A wind and rain storm last November caused an additional $200 million in insured damages.

“$500 million in losses in less than a year is staggering. Alberta has had more than its share of damaging storms this summer,” said Heather Mack, IBC’s Alberta Director of Government Relations. “But it is also encouraging to know our insurers are there to help people when they need it most. For those Albertans still looking for answers or if they need help with their insurance questions, please call our Consumer Information Centre at 1-800-377-6378,” adds Mack.

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.