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Member, Beacon International Group, Ltd.
TORONTOA series of thunderstorms and tornadoes in Ontario on Aug. 19 caused at least $100 million in insured losses, according to the Insurance Bureau of Canada.
The final costs of the storms will exceed $100 million because IBC's preliminary damage estimate was based on the 40% of its insurance company members who have already reported claims data to the Toronto-based organization.
Thus far, about 6,300 claims have been filed related to the storms that hit the province last week, according to the IBC, which is the national trade association of nongovernmental property and casualty insurers in Canada.