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Alberta windstorm cost $200 million in insured damage

In the last 3 years, Alberta insurers have paid $2 billion in damages from 5 disasters.

Insurance Bureau of Canada (IBC) reports that the estimated insured damage caused by windstorms that hit southern Alberta in November amounts to at least $200 million.

This is a preliminary estimate reported by Property Claim Services Canada (PCS-Canada), a service that tracks insured losses arising from catastrophic events in Canada. Data collected by PCS-Canada confirms that thousands of claims have been filed for damage to homes, cars and businesses in the wake of the storm.

“Thankfully, there were no serious injuries, and insurance should cover most of the damage,” said Doug Noble, IBC’s Alberta vice president. “Following the storm, IBC told affected consumers to contact their insurance representatives as soon as possible to start the claims process.”

He added, “There is no doubt that we are seeing more and more the impact of severe weather in Alberta.”

In summer 2011, a storm that pummelled Calgary and parts of southern Alberta, Saskatchewan and Manitoba with golf-ball-sized hail resulted in $185 million of insured damage. In summer 2010, another storm in Alberta resulted in $500 million in insured damage while deadly windstorms that rolled across the province in summer 2009 resulted in $360 million of insured damage.

Fires that destroyed much of Slave Lake in May of this year amounted to more than $700 million in insured damage, making it the second costliest insured disaster in Canadian history (after the ice storm that hit Quebec and Ontario in 1998, which cost over $1.8 billion).

“Following each of these disasters, insurers were there to help Albertans repair and recover,” remarked Noble.

Over the past three years, Alberta insurers have paid out approximately $2 billion in damages resulting from 5 disasters.

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