Flooding Fallouts: July flash floods in Toronto and Southern Ontario caused over $940 million in insured damages, reports IBC
Toronto, Ontario — According to the Insurance Bureau of Canada, the flash flooding that took place in Toronto and other parts of Southern Ontario between July 15 and 16, 2024 is estimated to have caused over $940 million in insured damages. During the torrential rain storm that caused the flash flooding in these areas, almost […]
A Catastrophic Calendar: IBC reports insured losses from Nova Scotia’s 2023 wildfires and flooding now approaching half a billion dollars
Halifax, Nova Scotia — The Insurance Bureau of Canada (IBC) has released a “One-Year Update Following 2023 Nova Scotia Wildfires and Flooding” report that details that insured losses in the province are now approaching half a billion dollars. The report specifically highlights the aftermath of two storms that affected the province in the late spring […]
Icy Insurance: Deep freeze in Western Canada estimated to have caused over $180 million in insured damages
Edmonton, Alberta — The deep freeze that Western Canada experienced in January is now estimated to have caused over $180 million in insured damages, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). On January 12 in British Columbia, Alberta and Saskatchewan, daytime highs dropped far below the seasonable normal and persisted for […]
Pothole Palooza: MPI sees jump in pothole-related claims; 249 claims received since start of 2024
Winnipeg, Manitoba — According to Manitoba Public Insurance (MPI), it has received 249 pothole-related claims since the start of 2024. The Crown corporation further notes that 161 of these claims were reported in the first 11 days of this month. This number is a distinct increase from the previous year in which MPI received a […]
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 […]
