Wednesday, August 20th15.5°C
22938
22285

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




Recent Trending




Today's Market
S&P TSX15477.17+138.70
S&P CDNX997.566.94
DJIA16919.5980.85
Nasdaq4527.514+19.202
S&P 5001981.60+9.86
CDN Dollar0.9130-0.0012
Gold1293.30-1.7999
Oil95.17+0.69
Lumber354.50+1.90
Natural Gas3.869-0.008

 
Okanagan Companies
Pacific Safety0.185-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.200.00
Cantex0.07+0.005
Anavex Life Sciences0.26+0.03
Metalex Ventures0.0850.00
Russel Metals37.22-0.15
Copper Mountain Mining2.77-0.11
Colorado Resources0.17-0.01
ReliaBrand Inc0.077-0.003
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.200.00

 



22416

FEATURED Property
2016850122 - 3996 Beach Avenue
2 bedrooms 2 baths
$449,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Going home to a bully!

Finally, after three months in New Brunswick, I am back home in the sunny Okanagan. It is a delight to be home and the lake, vistas, people and climate never disappoint. Like many people however, I...


Managing a business in 40 hours a week

My screen printing business, like many others, started as a one-man operation. It was located in a small building, not much better than a shack, with a telephone, a big table where I ate lunch and (oc...


The emperor's new clothes

The wealth market faces increasing competition and declining product differentiation. The wealth industry is responding to these emerging trends with “new” and “unique” investm...

_








Member of BC Press Council


22881