Toronto, ON (July 5, 2023) \u2013 The wildfire in Tantallon, Nova Scotia, that lasted from May 28 to June 4, 2023, is estimated to have caused more than $165 million (CAD) in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. Based on total claims counts, nearly 90% of all claims related to this wildfire were personal property claims.<\/p>\n
\u201cThe unprecedented 2023 wildfire season has devastated parts of Atlantic Canada and serves as a reminder of the increasing financial vulnerability of many Canadians due to natural catastrophes and other severe weather events. Our thoughts are with everyone whose lives have been disrupted and whose property has been damaged or totally destroyed,\u201d said Amanda Dean, Vice-President, Atlantic, Insurance Bureau of Canada (IBC). \u201cWe thank all those who have been involved in the ongoing recovery process, as well as the many first responders who took part in the firefighting efforts. As recovery and rebuilding continue, Canada\u2019s insurers will be there to assist the residents of Tantallon, Hammonds Plains and other impacted areas.\u201d<\/p>\n
The Tantallon wildfire forced more than 16,000 people to evacuate their homes, and thousands more were left without power. Officials have since confirmed that the wildfire either destroyed or damaged at least 200 properties, including 151 homes.<\/p>\n
\u201cAs the frequency and severity of weather events such as wildfires continue to increase in Atlantic Canada, so too do the financial costs borne by insurers and taxpayers. We all must do better to protect ourselves from natural disasters, which continue to have an outsized impact on the most vulnerable,\u201d said Dean. \u201cAnyone who has been affected by the Tantallon wildfire or has questions about their home, vehicle or business insurance, should call their insurance representative. Insurance representatives are on your side and there to help. Anyone with general insurance questions can also contact IBC\u2019s Consumer Information Centre at 1-844-2ask-IBC.\u201d<\/p>\n
To provide insurance information to affected residents in Nova Scotia, IBC deployed its Community Assistance Mobile Pavilion (CAMP) on May 29, 2023. While on the ground in the impacted areas, IBC CAMP staff assisted thousands of Nova Scotia residents by answering their questions about home, business or vehicle insurance policies. To learn more about IBC\u2019s recent CAMP deployment, please read IBC\u2019s IN Focus article, \u201cFive Questions I Heard Most Often During Nova Scotia\u2019s Wildfires<\/a>,\u201d by Gloria Haydock, Manager of Consumer and Industry Relations, Atlantic, IBC.<\/p>\n Insured damage related to severe weather in Canada now routinely exceeds $2 billion annually. With a total of $3.1 billion in insured damage from severe weather, 2022 was the third-worst year on record. By comparison, between 2001 and 2010, Canadian insurers averaged $675 million a year in losses related to severe weather. IBC continues to work in close collaboration with the federal government, provinces and territories to improve Canada\u2019s climate defence and build our resilience to the disaster risks we face due to climate change.<\/p>\n Insurance Bureau of Canada (IBC) is the national industry association representing Canada\u2019s private home, auto and business insurers. Its member companies make up the vast majority 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.<\/p>\n For more information, visit www.ibc.ca<\/a>. If you have a question about home, auto or business insurance, contact IBC\u2019s Consumer Information Centre at 1-844-2ask-IBC.<\/p>\n Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ) is a subsidiary of Zurich-based PERILS A.G. and delivers detailed analytical and meteorological information on Canadian natural and man-made catastrophes. Through its online subscription-based platform, CatIQ combines comprehensive insured loss and exposure indices and other related information to better serve the needs of the insurance \/ reinsurance \/ ILS industries, public sector and other stakeholders. For more information, visit www.catiq.com<\/a>. CatIQ was established in 2014 with the support of the overwhelming majority of the Canadian insurance and reinsurance industry and is widely recognized as the most reliable source of catastrophe loss information in Canada.<\/p>\n Source: Insurance Bureau of Canada (IBC)<\/em><\/p>\n Tags: Atlantic Canada<\/a>, CatIQ<\/a>, Insurance Bureau of Canada (IBC)<\/a>, insured damage<\/a>, Natural Catastrophes<\/a>, natural disaster losses<\/a>, wildfires<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Wildfires in Atlantic Canada serve as a reminder of the financial vulnerability that many Canadians face due to natural catastrophes Toronto, ON (July 5, 2023) \u2013 The wildfire in Tantallon, Nova Scotia, that lasted...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20464"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20464"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20464\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About Insurance Bureau of Canada<\/b><\/h4>\n
About CatIQ<\/b><\/h4>\n