Keyword
Hail

How ‘actual cash value’ could be affecting some Alberta hail victims

If some Alberta homeowners are only getting a small fraction of the cost to repair properties damaged in the recent hail storm, that could be the result of choosing a policy that only covers actual cash value, Insurance Bureau of…

Auto total loss claims escalate after Calgary hail storm: IBC

The industry is expecting well over 20,000 claims from the recent Alberta hail storm, and some vehicles were wrecked badly enough that they have to be written off, the Insurance Bureau of Canada reports. “We are hearing from several consumers…

How pandemic could complicate claims adjusting after Alberta hail storm

The COVID-19 pandemic could complicate the movement of adjusters if help is needed from south of the border to deal with the aftermath of the recent southern Alberta storm. “I think customers by and large are recognizing that it’s complicated…

Calgary hail damage ‘pretty startling’ to this adjuster

If you have clients in the Calgary area who suffered property damage in the June 13 hail storm, they could be waiting a while to get their properties repaired, an executive for one independent adjusting firm suggests. “There are tens…

Why the latest Calgary hail storm could cost $1 billion

The thunderstorm that hit Calgary this past Saturday evening could be more expensive to the industry than the 2014 Airdrie, Alta., hail storm that cost P&C insurers more than $500 million, an industry watcher suggests. Hail the size of tennis…

What underwriters can learn from Cloudy with a Chance of Meatballs

Hail is a major driver of insured property damage in Canada, but testing resilience of roofing material by dropping steel balls on it has limited value, a CatIQ Connect speaker suggested Wednesday. Roy Wright, president and CEO of the Insurance…

Hail, strong winds devastate Alberta communities

TABER, Alta. – Taber corn, that tasty sweet treat on the cob that Albertans look forward to in late summer, will be much harder to find this year after a major storm ripped through the province’s southern corn belt this…

How much it cost the industry when baseball-sized hail hit western Canada

A severe storm that affected parts of Saskatchewan and Manitoba in mid-June resulted in more than $90 million in insured damage, according to data released by Catastrophe Indices and Quantification Inc. (CatIQ). Strong winds and large hail – in some…

Busy broker fined $500 for remitting premium to insurer four months late

A “very busy” Manitoba broker working alone with no support staff has been fined $500 by the provincial broker regulator for failing to remit an insured’s crop hail insurance premium to an insurer until four months after the due date.…

Cataclysmic hailstorm could cause up to $13.5 billion in damage: ICLR report

In a low-probability, worst case scenario, a single major hailstorm in Canada could result in insurance claims of up to $13.5 billion, according to a new research paper from the Institute for Catastrophic Loss Reduction (ICLR). “Of concern is that…

Authorities confirm tornado hit Quebec town as cleanup operations continue

MONTREAL – Environment Canada says a tornado touched down in a Quebec town during intense thunderstorms that caused considerable damage in different parts of the province, including the felling of century-old trees in Montreal. Meteorologist Amelie Bertrand said Wednesday a team dispatched to Lachute confirmed an EF-1 tornado with winds reaching about 175 km/h struck in the town about 85 kilometres north of Montreal.

Bertrand said an EF-1 tornado can cause wind gusts ranging from about 135 to 175 km/h, placing Tuesday’s tornado at the higher end of…

Cleanup underway after severe storm with heavy winds rips through Montreal area

MONTREAL – Crews began cleaning up in Quebec on Wednesday after a suspected tornado hit one town and severe thunderstorms ripped through other parts of the province, felling century-old trees in one Montreal neighbourhood. The Montreal area and the Laurentian…