Hurricane Igor claims reach $65M
Insurance companies say rate hike may be needed as storms become more frequent
Last Updated: Wednesday, November 3, 2010 | 8:24 AM NT
CBC News
Hurricane Igor brought massive flooding and high winds to many communities in eastern Newfoundland, including the Trinity Bay community of Trouty. (Courtesy of Kim Toope) People in eastern Newfoundland have made more than $65 million in insurance claims related to Hurricane Igor, according to the Insurance Bureau of Canada.
A bureau official said Tuesday that people affected by the storm that hit eastern Newfoundland on Sept. 21 have filed thousands of claims.
The claims are for damages caused by wind, sewer backups, fallen trees and above-ground leaks.
Bureau vice-president Bill Adams said insurance companies are concerned about the frequency of storms like Igor, and they may result in insurance premiums rising, although it's too early to say whether that will happen.
"The broader issue is that we're getting more precipitation more often. We're getting more extreme weather-related events that are increasing the claims that insurance companies are seeing," he said.
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