A hurricane that traveled 621 miles across southern Canada and hit major metropolitan areas could be one of the most costly insured severe convective storms recorded for Canada’s insurance industry, Aon PLC said on Friday in its latest disaster report.
The May 21 storm, which generated extraordinary straight-line wind damage, could also be one of the more expensive Canadian insured loss events recorded based on preliminary estimates, Aon said in the report.
At least 10 people were killed and extensive damage was done to parts of Toronto, Ottawa, Montreal and Quebec City, Aon said.
Electricity services to at least 1 million customers in southern Canada were lost when the storms passed.
In Ontario, large power transmission towers in Ottawa were demolished during the demolition, and no less than 1,000 power poles were demolished throughout the province.
Widespread damage was reported to homes and other structures, vehicles and agricultural activities in regions affected by the storm.
A spokesman for the Insurance Bureau of Canada said via email that an initial estimate of insured losses will be provided within 45 days.
Catastrophe Index and Quantification Inc. has declared the storm a disaster. Its threshold for a disaster declaration is CAD 30 million (USD 24 million).
“However, this will be much more than $ 30 million,” the insurance agency spokesman said.