Thursday, May 28th27.1°C
26379
25263

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

24910


Recent Trending




Today's Market
S&P TSX15107.00-3.47
S&P CDNX692.16+1.54
DJIA18126.12-36.87
Nasdaq5097.98-8.62
S&P 5002120.79-2.69
CDN Dollar0.8044-0.0002
Gold1187.40-16.90
Oil58.57+0.34
Lumber274.20-0.20
Natural Gas2.81-0.01

 
Okanagan Companies
Pacific Safety0.14+0.01
Knighthawk0.010.00
QHR Technologies Inc1.48-0.02
Cantex0.03-0.01
Anavex Life Sciences0.40-0.02
Metalex Ventures0.07-0.01
Russel Metals25.20-0.31
Copper Mountain Mining1.30+0.02
Colorado Resources0.10-0.01
ReliaBrand Inc0.0129-0.0010
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.15-0.00
Decisive Dividend Corporation2.10+0.16

 



26401

FEATURED Property
225059714-1929 Hwy 97S
3 bedrooms 2 baths
$134,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What's a robo-advisor?

Photo: ContributedIt can only be attributable to human error. -Hal, 2001: A Space Odyssey For most of us who are within thinking distance of retirement, the term “robo” conjures up image...


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...

_



26418

25991


Member of BC Press Council


26106