June storm in Ontario tops $30 million in insured damage: IBC

The Insurance Bureau of Canada (IBC) reported earlier this week that the insured damage caused by the heavy rains and strong winds that swept southern Ontario on June 22 is estimated at more than $30 million.

The figure is based on a preliminary estimate from Catastrophe Indices and Quantification Inc. (CatIQ), which compiles and combines comprehensive insured loss amounts and related information to serve the risk management needs of the insurance and reinsurance industries, IBC noted in a statement.

The heavy rain in Toronto and London, Ont. last month caused localized flooding. In Toronto, flooding was mainly limited to pooling water, causing the closure of intersections and cancellation of several early-morning GO trains, the IBC said. Basement flooding was also reported across the Greater Toronto Area.

In certain parts of London, the rain overwhelmed the sewer system. The resulting sewer backup caused residential basements to flood and affected commercial properties, including White Oaks Mall.

In other parts of southern Ontario, strong winds brought down trees, causing power outages. With the relentless lightning contributing to outages, at least 100,000 Hydro One customers lost power, IBC reported.

“Weather events that used to happen every 40 years can now happen every six years,” said Ralph Palumbo, vice president, Ontario, IBC, in the statement. “In recent years, we’ve seen first-hand the impact that storms can have. Storms are more frequently damaging our homes and business properties.”

Insurers continue to counsel consumers on the need to understand their risks and take action to reduce their property’s vulnerability to damage. Before another storm hits, consumers should contact their insurance representatives for information on their policies and what types of coverage best suits their individual circumstances, the IBC recommended.