June Storm In Ontario Tops $30M In Insured Losses

The Insurance Bureau of Canada (IBC) reported earlier this week that the insured damage caused by the heavy rains and strong winds that swept southern Ontario on June 22 is estimated at more than $30 million.The figure is based on a preliminary estimate from Catastrophe Indices and Quantification Inc. (CatIQ), which compiles and combines comprehensive insured loss amounts and related information to serve the risk management needs of the insurance and reinsurance industries, IBC noted in a statement.