The tally for Calgary’s record-breaking hailstorm last August continues to rise, with total insured losses now estimated to be C$3.25 billion (US$2.2 billion), according to the Insurance Bureau of Canada, quoting statistics issued by Catastrophe Indices and Quantification Inc. (CatIQ). …
An onslaught of four natural disasters caused C$7.1 billion ($5.3 billion) of insured losses across Canada in just two months — more than any other summer on record. In July and August, a ballistic hailstorm tore through cars and buildings …
Four natural catastrophes over four weeks during Canada’s summer season have resulted in about five times the amount of claims than the 20-year average, reported the Insurance Bureau of Canada. About 228,000 home, auto and business insurance claims have been …
Insured losses have surged in the past decade as climate change in Canada sparks wildfires, intense hailstorms and thunderstorms with severe flooding in major cities. Insured losses from natural disasters averaged C$2.2 billion ($1.63 billion) a year over the last …
Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and potentially claims adjustment delays, according to insurance …
Most small businesses don’t believe they will experience a cyber attack, yet many employees are concerned they are putting their organizations at risk, according to a recent poll by Insurance Bureau of Canada (IBC). IBC’s 2023 Cyber Security Survey found …
An atmospheric river event that led to significant flooding in parts of Nova Scotia on July 23, 2023, is estimated to have caused over C$170 million (US$125.5 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting …
Insured damages from Hurricane Fiona are now estimated at over C$800 million (US$591.2 million), according to the Insurance Bureau of Canada (IBC), quoting the Catastrophe Indices and Quantification Inc. (CatIQ). Hurricane Fiona remains the most costly extreme weather event ever …
Hurricane Fiona is estimated to have caused C$660 million (US$436.8 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Hurricane Fiona is the most costly extreme …
The storm that swept through southern Ontario and parts of Quebec on Saturday, May 21, caused over C$875 million (US$676.3 million) in insured damages, according to the Insurance Bureau of Canada, which quoted initial estimates from Catastrophe Indices and Quantification …
