Calgary hailstorm causes $247 million in insured damage

EDMONTON, AB, Aug. 4, 2021 /CNW/ - The hail, rain, and windstorm that hit Calgary on July 2 caused $247 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Calgary experienced extensive flooding of streets, underpasses, and parking lots. There were also reports of a damaged gas line, downed trees, and sewer backup in basements and commercial buildings.

"Again this summer, Calgary residents had their homes hit by a severe hailstorm," said Aaron Sutherland, Vice-President, Western and Pacific, Insurance Bureau of Canada (IBC). "Canada's insurers are here to help. Anyone with questions about their home or business insurance should call their insurance representative or IBC's Consumer Information Centre at 1-844-2ask-IBC."

Damage caused by hail and wind is typically covered by home, commercial and comprehensive auto insurance policies. IBC reminds Albertans that the insurance industry is committed to assisting its customers throughout the entire claims process for this, and for any other, severe weather event.

"Albertans know too well the stress, turmoil and financial hardships that severe weather events can cause. Of the 10 most costly disasters in Canada, six of these have hit Alberta. Fortunately, Albertans are resilient and continue to come together in difficult times like these," added Sutherland.

Last year's Calgary hailstorm is the costliest hailstorm in Canadian history, causing roughly $1.2 billion in damage, making it the fourth costliest natural disaster of all time. The most expensive insured natural catastrophe on record is the 2016 Fort McMurray wildfire, which cost almost $4 billion. The next highest loss, at $3.5 billion, was in 2013, and included the flooding in southern Alberta.

The amount of insured damage is an estimate provided by CatIQ (www.catiq.com) under licence to IBC.

Resources

If you have questions, contact your insurance representative or IBC's Consumer Information Centre at 1-844-2ask-IBC.

For additional information, visit www.ibc.ca/hail or email [email protected].

About Insurance Bureau of Canada

Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.

For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow us on Twitter @IBC_West or like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC.

SOURCE Insurance Bureau of Canada