There have been almost $2.8 billion in claims made because of a severe hailstorm in Calgary this past August, making it the second-costliest natural disaster in Canadian history.
The Insurance Bureau of Canada (IBC) says the initial estimates of the costs come from Catastrophe Indices and Quantification Inc.
Only the 2016 Fort McMurray wildfire resulted in higher insurable damages, IBC said.
“With yet another record-setting summer for insured losses due to severe weather, these losses will create claims cost pressures,” the company said.
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The hailstorm hit on Aug. 5, bringing significant hail, strong winds, heavy rain and causing localized flooding in parts of Calgary.
Officials say almost one in five homes suffered damage.
There have been more than 130,000 claims from this storm, officials said.
Extreme weather in Alberta
IBC says Alberta has been the …