Canadian Underwriter
Feature

Insurers tally BC winter storm claims


April 1, 2007   by


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B.C.’s stormy winter of 2007 is expected to result in more than 17,000 claims, according to the Insurance Bureau of Canada (IBC). In total, IBC said the province’s insurers “expect to pay more than Cdn$135 million to help British Columbians recover from the storms that struck earlier this winter.” That will make it the largest insurance loss in British Columbia since the wildfires of 2003, which resulted in losses of Cdn$200 million.

Among the hardest hit areas were the Lower Mainland, Southern Vancouver Island and the Gulf Islands. Most of the claims were for windstorm and sewer back-up damage. “Insurers appreciated the patience of claimants while they helped those most in need first,” said Lindsay Olson, IBC vice president, British Columbia and Yukon. “Restoration of damaged homes and businesses was also longer than usual in some cases due to the shortage of available resources. This shortage is a result of the province’s booming economy.”