Severe summer storms in Alberta and the Prairies this year resulted in over $300 million in insured losses, according to the initial estimates from Catastrophe Indices and Quantification Inc. (Photo: Canadian Press)
Insured damages from summer storms in Alberta top $300M, estimate shows
Sep 20, 2023 | 4:32 AM
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CALGARY, AB – Severe storms in Alberta and the Prairies this summer resulted in more than $300 million in insured losses, according to initial estimates from the Insurance Bureau of Canada.
The estimate doesn’t include insured damages from the ongoing wildfires.
The bureau says about 30 per cent of the insured losses, or more than $90 million, went toward repairing or replacing storm-hit vehicles in Alberta, particularly straining the auto insurance market amid the provincial rate pause.
