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Storms : the bill increases for insurers since the beginning of the year

by

Andrea Lubeck

March 20, 2018 11:30

Since the beginning of the year, winter storms caused $ 111 million ($M) in insured damage in Ontario and Quebec. Data compiled by the Catastrophe Indices and Quantification and disclosed by the insurance Bureau of Canada (IBC) reported insured losses of$ 54 Million in January and$ 57 Million in February.

In Quebec, the total of insured damage to the data published by IBC amounted to$ 47 Million, and reached$ 55 Million in Ontario.

“Climate change cause more extreme weather events during the year, more particularly of the storms causing flooding,” says Kim Donaldson, vice-president, Ontario, IBC.

A high pressure system in question

The most recent data demonstrate that the high temperatures caused by a high pressure system, which occurred from 19 to 22 February and heavy rains in the cities of Brantford, Chatham-Kent, London, Cambridge and in the region of the Greater Toronto area in Ontario, in the eastern Townships and certain areas of the city of Quebec led to flooding.

“Since the floods can quickly cause considerable damage, it is essential that consumers know what exactly is covered in their insurance contracts and they have a protection against flooding. Consumers should check their contracts with their insurance representative to evaluate the options that are available, ” says Ms Donaldson.

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