In anticipation of Hurricane Fiona, Insurance Bureau of Canada (IBC) is sharing the following tips and advice to help keep you, your family and property safe. "A hurricane can cause extensive damage regardless of its category. Being prepared for any severe weather event is important for your personal and financial security," said Amanda Dean, Vice-President, Atlantic, IBC. "We want to ensure that residents in Atlantic Canada are ready for strong wind or heavy rains that Hurricane Fiona may bring to the region. Even a significantly weakened hurricane can carry winds strong enough to cause widespread destruction."
Cost of damage from B.C. flooding could be 'catastrophic,' expert says
"We are considering this to be a catastrophic loss," Rob de Pruis, director of consumer and industry relations at the Insurance Bureau of Canada, told CTV National News. Floods in both Toronto and Calgary in 2013 prompted the Canadian insurance industry to offer what it called "overland flood coverage" starting in 2015. The Insurance Bureau of Canada estimates about 50 per cent of B.C. property owners have purchased it. "We do know and we have received reports of overland flood damage, sewer backups, even wind damage," de Pruis told CTV News Vancouver. "If you have been evacuated and you do have the overland flood coverage, you also have coverage for your additional living expenses."