Managing the effects of severe weather

Managing the effects of severe weather

As Canadians, we tend to take our weather news seriously, and for good reason. Since 2001, more and more severe weather events have been affecting areas across the country. In fact, the cost of storm damage claims jumped from $16.7 million in 2001 to over $100 million only ten years later.

What areas are most affected?
Most of the severe storms have occurred in the areas of Alberta, Saskatchewan and Manitoba. Although many other areas of the country have been affected by major storm events, Western Canada has been impacted the most.

Storms and the insurance industry
This increase in storm activity has been keeping our claims staff on their toes. To ensure the fastest possible response to claims, we created a specialized Storm Team in Western Canada. The claims representatives on this team handle only storm-related claims. By focusing their efforts, they’re able to provide fast service to our clients and often settle claims on the first visit. Thanks to the team’s great success, we’re adding a second unit to the Major Event team that will be based in Ontario and the Atlantic provinces.

In terms of large-scale efforts, more research is underway to understand these extreme weather conditions and what is causing them. Several insurers are working to find new ways to build homes that are better able to withstand damage from storms, earthquakes and other hazardous weather events.

How to stay safe and minimize losses
The best way to protect yourself and reduce potential damage to your property from major storms is to be prepared ahead of time. In addition to knowing the potential hazards for the area you live in, prepare an emergency safety kit and make sure you have enough insurance coverage for the important things in your life.