Canadian Underwriter

Alberta storm in June costs $30 million: CatIQ


July 18, 2017   by Staff


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weather-02A severe storm that hit central Alberta at the end of June has resulted in more than $30 million in insured damage, according to Catastrophe Indices and Quantification (CatIQ) Inc.

The Insurance Bureau of Canada released the information on Monday.

A low-pressure system produced severe thunderstorms in parts of central Alberta, which includes Red Deer, Innisfail and Pine Lake. The storms produced hail and winds of over 100 km. per hour, states IBC’s announcement.

From the archives: Alberta Floods: After the Storm

Strong winds were the primary cause of property damage. The wind brought trees down on top of buildings and cars, and left thousands of properties in Red Deer without power. The strong winds also tore off roof shingles, caused flying debris and blew over a tractor-trailer.

“Severe storms have been happening more often and with greater intensity across Alberta,” says Bill Adams, vice president at the IBC for western Canada. “It is important that Canadians understand their insurance policies and what’s covered. It’s also essential to have an emergency preparedness plan and know what to do when bad weather strikes.”

This story was originally published by Canadian Insurance Top Broker.