Angus Ontario tornado costs over $30 million in insured damage

TORONTO, July 9, 2014 /CNW/ - Insurance Bureau of Canada (IBC) reports that according to Property Claim Services (PCS) the estimated insured damage caused by the tornado that struck Angus, Ontario, last month amounts to at least $30 million. More than 100 homes were damaged, forcing people to live in emergency shelters or with friends or family during the clean-up process.

Immediately after the tornado hit, IBC deployed its Community Assistance Mobile Pavilion (CAMP) to Angus to help residents and businesses by offering on-site, insurance-related information. Pete Karageorgos, IBC's Director of Consumer Relations, said, "I was on the ground with IBC's CAMP, and I can say first-hand that the tornado's destruction is devastating for those who have been affected. But insurers are here to help with the recovery."

IBC worked with its members, local fire, provincial police, and emergency management officials as well as the Mayor and representatives from Council to help prepare a plan that allowed residents to return to their homes to inspect the damage and to work with adjusters to begin the work of restoring their homes.

Many insurance companies brought in extra staff to start issuing cheques to residents to cover their daily needs and to begin processing claims immediately. And insurers continue to help the community to recover.

The amount of insured damages reported is a preliminary estimate by Property Claim Services (PCS), which tracks insured losses arising from catastrophic events in Canada.

If Angus residents have insurance questions, IBC urges them to contact their insurance representatives or IBC's Consumer Information Centre in Ontario at 1-800-387-2880 (Monday to Friday, 8 a.m. to 5 p.m.).   For more information on what to do in the event of a tornado, watch this IBC video.

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Insurance Bureau of Canada (IBC) is pleased to celebrate 50 years as a valuable resource for insurance information. Since 1964, IBC has been working with governments across Canada to make our communities safer, championing issues that directly affect Canadians and the property and casualty (P&C) insurance industry. IBC is the national industry association representing Canada's private home, car and business insurers. Its member companies represent 90% of the P&C insurance market in Canada. The P&C insurance industry employs over 118,600 Canadians, pays more than $7 billion in taxes and levies to the federal, provincial and municipal governments, and has a total premium base of $48 billion.

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If you require more information, IBC spokespeople are available to discuss the details in this media release.

SOURCE: Insurance Bureau of Canada

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