Hailstorm Hardships: IBC reports that recent Calgary hailstorm will continue to put pressure on Alberta’s insurance system
Calgary, Alberta — The Insurance Bureau of Canada (IBC) is warning that more automotive insurers could be pushed out of the province following an August hailstorm that resulted in $900 million in unexpected claims costs pressures. Specifically, Aaron Sutherland, IBC’s vice president for the Pacific and Western area explained in a media release that costs […]
Costly Claims: Calgary hailstorm in August results in nearly $2.8 billion in insured damages, says CatIQ estimates
Calgary, Alberta — The Insurance Bureau of Canada (IBC) has indicated that the hailstorm that hit the Calgary, Alberta area in early August has resulted in nearly $2.8 billion in insured losses—the second costliest event in Canada’s insurance history. The storm in question specifically occurred on August 5, 2024, with Environment and Climate Change Canada […]
