Natural Disasters

It is no secret that the frequency and impact of natural disasters is on the rise worldwide. Earthquakes, hurricanes, tsunamis, forest fires, tornados, ice storms and severe rain storms are happening more often than ever before, and costing us more dearly.

Canada is not immune to this trend. Many of us remember the devastation of Hurricane Juan, which hit Nova Scotia and Prince Edward Island in 2003, and the sheer horror of the forest fires that swept across British Columbia the following summer. In 2005, Toronto and the surrounding area were hit with a severe rainstorm and tornadoes that led to the second-largest insurance payout in Canada’s history. The largest Canadian disaster was the ice storm of 1998.

Through all these disasters, Canada’s home, car and business insurers have been there to help Canadians get back on their feet. They have also been leading efforts to help lessen the impact of disasters on people’s lives. Through their involvement with research organizations such as the Institute for Catastrophic Loss Reduction (ICLR), their work in helping to raise public awareness and their advocacy of a national Natural Disaster Reduction Plan, insurers are doing their part to protect Canadians from the worst that nature can throw our way.
                                                                                                                                                         Insurance Bureau of Canada