Monday, September 1st16.7°C
23003
22642

Severe weather in 2013 caused record $3.2 billion in payouts: Insurance industry

Ice, floods and thunderstorms made 2013 the worst year ever for insured losses in Canada.

The Insurance Bureau of Canada (IBC) says the December ice storms in southern Ontario and eastern Canada caused more than $200 million worth of insured losses, pushing the total payouts to policy holders for the year to $3.2 billion.

IBC CEO Don Forgeron (forge-er-on) says the terrible effects of the weather hit Canadians and the insurance industry hard.

The largest disaster continues to be the torrential rains and floods that soaked southern Alberta in June, causing $1.74 billion in insured damage.

Flash floods in Toronto the following month caused an estimated $940 million in damages.

Severe thunderstorms in parts of Ontario and Quebec in June and July resulted in about $250 million in insurance payouts.

The Canadian Press


Read more Business News

21807


Recent Trending




Today's Market
S&P TSX15625.73+67.561
S&P CDNX1023.991.62
DJIA17098.4518.88
Nasdaq4580.271+22.577
S&P 5002003.37+6.63
CDN Dollar0.9179-0.0016
Gold1281.70-2.1001
Oil95.96+1.29
Lumber349.60+2.60
Natural Gas3.965+0.054

 
Okanagan Companies
Pacific Safety0.20+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.08+0.01
Anavex Life Sciences0.25+0.01
Metalex Ventures0.0750.00
Russel Metals36.48+0.09
Copper Mountain Mining2.93+0.02
Colorado Resources0.180.00
ReliaBrand Inc0.10+0.001
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.245-0.005

 



22253

FEATURED Property
20453067124 Lakeridge Drive
10087068 bedrooms
$188,800
more details
image2image2
Click here to feature your property
Please wait... loading


At the Core: Lessons in pricing from Apple

Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....


New Real Estate Brokerage in town

Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...

_








Member of BC Press Council


22810