Media Releases 2008

May 30, 2008

Manitobans urged to check insurance policies as weather-related summer events take hold: Wind and fire damage usually covered

WINNIPEG – Canada's home, car and business insurers are reminding Manitoba’s homeowners to review their insurance policies after Environment Canada received reports of a tornado touching down in the province earlier this week, and fires are affecting northern Manitoba.

“Damage from fire, wind and hail is generally covered by home insurance,” said Lindsay Olson, Insurance Bureau of Canada’s Vice-President for British Columbia, Saskatchewan and Manitoba. “Likewise, damage from any objects that might have fallen onto homes as a result of a tornado is also covered.”

This week’s tornado could well be the first in a series to hit Manitoba this summer. Summer storms, which include tornadoes, heavy rain and hail have been getting more frequent and severe in Manitoba. The dry and hot weather conditions are also conducive to fires. Last year insurers paid around $64 million in claims due to Manitoba’s summer storms and the province recorded its first category five tornado in history.

“We suggest that everyone, even those not affected by the recent events take this opportunity to review their insurance coverage with their insurance professional,” Olson said. “Homeowners should be aware of what their policies cover and what they don't cover and the amount of coverage offered by their policy. It's best to know this before something happens.”

She reminded Manitobans that they can take steps to minimize damage and prepare for natural disasters. To learn more about what’s covered by insurance, go to www.ibc.ca, where consumers can also download Know Your Stuff: free software to help homeowners and renters develop a comprehensive inventory of their belongings in the event that they ever need to make a claim.

Manitobans can also go to the Emergency Measures Organization’s website at www.gov.mb.ca/emo/home/prepare/index.html to learn more about disaster preparedness.

Consumers with questions about home, car or business insurance can contact IBC's Consumer Information Centre at 1-877-772-3777.

Insurance Bureau of Canada is the national industry association representing Canada’s private home, car and business insurers. Its member companies represent nearly 95% of the property and casualty (P&C) insurance market in Canada. The P&C industry employs over 104,000 Canadians, pays more than $6 billion in taxes to the federal and provincial governments, and has a total premium base of $35 billion.

For more information about IBC, please visit www.ibc.ca.

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For further information contact: Lindsay Olson, 604-684-3635 extension 224