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Winter storm :$ 124 Million of insured losses in three days

by

Charles Mathieu

12 April 2019 11:30

The winter storm that has affected Ontario, Quebec, New Brunswick and Nova Scotia from 14 to 16 march cost almost $ 124 million in insured damages. This is revealed by Catastrophe Indices and Quantification Inc. (CatIQ), commissioned by the insurance Bureau of Canada (IBC).

Heavy rains, wind gusts and temperature changes have affected North-Western Ontario on march 14. This cocktail weather is then directed towards the east of the country during the following two days. All this has caused an earlier break-up of the snow in the affected provinces. Heavy floods have followed.

The BAC says that the storm has caused significant leakage in basements and sewer back-ups.

Amanda Dean, vice-president of the BAC in the Atlantic region of the country, says that the costs for the insured losses are only part of the total amount disbursed. “The costs are economic for owners and governments should also be taken into account in the total cost to the company. Consumers need to take action and secure their property to minimize the potential damage. It is essential to know what is covered before a disaster occurs. “

The oca reiterates its recommendations

The insurance Bureau of Canada continues to put pressure on the different levels of government so that they invest more in the fight against climate change. The TRAY had already made this recommendation following the publication of the Report on the changing climate of Canada.

“As a society, we need to adapt to this changing climate leads to an increase in extreme weather events. Canadians need to understand the physical risks and financial to which their families are exposed, ” says Pierre Babinsky, senior director of boards and public affairs of the BAC in Quebec. Better building codes, increased awareness of risk and improvements to the infrastructure are needed to enhance the resilience of our communities. Homeowners will also benefit from a better knowledge of the risk and measures they can take to protect their home against the rigors of mother nature. “

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