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 […]
Cataclysmic Cash-Outs: Severe summer storms in Alberta and Prairies have resulted in $300 million in insured losses
Calgary, Alberta – It’s raining more than cats and dogs according to recent Insurance Bureau of Canada (IBC) reports. Initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ) indicate that the past few months of storms in Alberta and the Prairies have generated over $300 million in insured losses. When calculating these losses, estimates were […]
More than a Drizzle: Summer storms in the prairies total $120M in damage, according to IBC
Edmonton, Alberta — The Insurance Bureau of Canada (IBC) has been tallying up damage costs and has found that the prairies have taken a hit of $120 million in insured damage this summer, following two significant storms. Strong winds, hail and rain on July 22 caused $56 million in insured damage, while severe storms on […]
Holy Hail: Calgary hailstorm caused $247 million in insured damage, according to estimates
Calgary, Alberta — The hail storm that hit Calgary over a month ago caused $247 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). On July 2, Calgary experienced extensive flooding of streets, underpasses, and parking lots. There were also reports of a damaged gas line, downed trees, and sewer […]
CAMP comes to Calgary: IBC deploys Virtual Community Assistance Mobile Pavilion to assist residents of Southern Alberta
Calgary, Alberta — Following the hailstorm in Calgary and the surrounding area, the Insurance Bureau of Canada (IBC) has deployed its Virtual Community Assistance Mobile Pavilion (CAMP) to assist affected residents. IBC deploys CAMP to disaster sites that have significant insured damage. Canadians who are suddenly forced to cope with a damaging event – such […]
