You are here
Insurance 

Canada reaches the milestone of 100 disasters in 10 years

by

Andrea Lubeck

17 May 2018 13:30

April marks the month where Canada has surpassed the 100 disasters in a decade, noted the research firm Catastrophe Indices and Quantification (CatIQ). Since 2008, CatIQ reports that losses due to catastrophes totaled 17.4 billion dollars (G$).

Among the most expensive, on account of the lights of Fort McMurray in 2016, the floods of 2013 in southern Alberta, Toronto in the same year, the hail in central Alberta in 2014, and the fires in Slave Lake in 2011.

For 2017, CatIQ evaluates the insured losses at$ 1.4 billion. “The insured losses of over a billion dollars a year are increasingly common in Canada, while harsh storms are more frequent, and 2018 is experiencing an early, costly,” says the firm.

The month of April is very costly in Canada and the United States

Canada and the United States have been particularly affected by the bad weather during the month of April. The storms have caused economic losses of more than us $ 360 million (US$ MILLION) in Canada and us $ 2.3 billion (US$ millions) in the United States, according to data from the report Impact Forecasting ofAon Benfield.

Aon estimated that the insured losses reach$ 180 MILLION US in Canada for the month of April. Winter storms occurring primarily in Ontario and Quebec are in the cause, ” says the firm. A mixture of considerable fall of snow, sleet and strong winds has led to the loss of power and damage, especially in the cities of Toronto, Montreal and Quebec city.

Since the beginning of the year, the insurance Bureau recognizes the damage caused by weather events, according to data published by CatIQ. As a result, losses amounted to more than$ 200 Million, taking account of the storms until the beginning of the month of April.

5 systems of storms

Our neighbours to the South, the insured losses amounted to US$ 1.5 billion, because of the five systems of storms separate that have caused storms across the United States in the central states and the East of the country. Nearly 70 tornadoes that touched ground and hail the size of baseball have caused damage to residential and commercial buildings, and cars.

Related posts

Leave a Comment