|By PR Newswire||
|January 20, 2014 09:40 AM EST||
TORONTO, Jan. 20, 2014 /CNW/ - The December 2013 ice storm in southern Ontario and eastern Canada resulted in $200 million in insured losses and pushed the year-end severe weather insured loss total to $3.2 billion, which is the highest in Canadian history, reports Insurance Bureau of Canada (IBC).
The losses of 2013 came after four years in a row of natural disaster losses for the insurance industry that hit the $1 billion mark.
"In 2013, the terrible effects of the new weather extremes hit Canadians hard. From the Alberta floods last summer to the ice storms in Ontario and Atlantic Canada over the holidays, frankly, bad weather hit insurers hard, too," says Don Forgeron, President and CEO, IBC.
"I'm very proud of how the home, car and business insurance industry performed during these difficult times. We responded quickly to disasters when Canadians needed us most. Despite unprecedented losses, we were there for Canadians through each and every high-cost disaster. And we are contributing new ideas and leadership for adapting to severe weather in the future," Forgeron says.
The largest insured disaster – and Canada's costliest natural disaster ever – was the torrential rainfall that flooded towns in southern Alberta last June. Insured damage for that storm was more than $1.74 billion.
"These unprecedented losses have been very difficult for Albertans. Many homes and businesses were destroyed. Rebuilding will go on for some time to come, and our industry will continue to be there to fulfill its important role," says Bill Adams, Vice-President, Western and Pacific Region, IBC.
In July, a record rainfall caused flash flooding in Toronto that resulted in $940 million in damages. The flooding was the most expensive insured natural disaster in Ontario's history and the second-most expensive weather event this year.
In the December ice storms that hit southern Ontario and eastern Canada, most of the $200 million in claims were for homes damaged by trees that fell as a result of ice buildup. Ontario-based insurers also paid more than $25 million in claims for vehicles damaged in the storm.
Other natural disasters in 2013 included the severe thunderstorm that hit central and southern Ontario and southwest Quebec in July causing around $200 million in damage and the band of powerful thunderstorms that hit Quebec and Ontario in June with damage amounting to over $50 million.
"Canadian communities are seeing more severe weather, especially more intense rainfall. This overburdens our sewer and stormwater infrastructure, resulting in more sewer backups in homes and businesses," states Forgeron. "Property and casualty insurers are collaborating with all three levels of government to help Canadians adapt to these new weather realities," he adds.
Faced with these unrelenting losses, Canada's insurance industry continues to seek out solutions. For example, after several years of research and development, IBC recently unveiled a new predictive tool for municipalities to help them pinpoint vulnerabilities in their sewer and stormwater infrastructure – weaknesses that could lead to costly sewer backups and basement flooding.
The new technology, called MRAT for "municipal risk assessment tool," combines information about municipal infrastructure, current and future climate, and past insurance claims to give city engineers a new and revealing picture of where their infrastructure is vulnerable now and will be vulnerable in 2020 and in 2050.
IBC launched MRAT in November as a pilot project in partnership with three municipalities – Coquitlam, BC, Fredericton, NB, and Hamilton, ON. MRAT will help municipalities identify vulnerabilities in their sewer and stormwater infrastructure in order to prioritize improvements to prevent sewer backups and keep basements dry.
Data about insured damage is from PCS-Canada. Subscribers to the PCS-Canada service can access detailed reports by logging on to www.pcs-canada.com.
For more information about how to protect yourself from severe weather, visit ibc.ca.
About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association representing Canada's private home, car and business insurers. Its member companies represent 90% of the property and casualty (P&C) insurance market in Canada. The P&C insurance industry employs over 118,600 Canadians, pays more than $7 billion in taxes to the federal, provincial and municipal governments, and has a total premium base of $46 billion.
If you require more information, IBC spokespeople are available to discuss the details in this media release.
SOURCE Insurance Bureau of Canada
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 20, 2017 05:00 AM EST Reads: 2,468
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
Jan. 20, 2017 04:00 AM EST Reads: 3,926
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Jan. 20, 2017 03:00 AM EST Reads: 827
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Jan. 20, 2017 02:30 AM EST Reads: 5,015
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
Jan. 20, 2017 02:15 AM EST Reads: 6,043
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jan. 20, 2017 02:00 AM EST Reads: 5,323
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Jan. 20, 2017 02:00 AM EST Reads: 3,634
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Jan. 20, 2017 02:00 AM EST Reads: 6,571
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Jan. 20, 2017 01:45 AM EST Reads: 4,265
"Splunk basically takes machine data and we make it usable, valuable and accessible for everyone. The way that plays in DevOps is - we need to make data-driven decisions to delivering applications," explained Andi Mann, Chief Technology Advocate at Splunk and @DevOpsSummit Conference Chair, in this SYS-CON.tv interview at @DevOpsSummit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 20, 2017 01:15 AM EST Reads: 2,141
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
Jan. 20, 2017 01:15 AM EST Reads: 1,352
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Jan. 20, 2017 12:45 AM EST Reads: 2,844
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captur...
Jan. 20, 2017 12:45 AM EST Reads: 2,874
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Jan. 20, 2017 12:45 AM EST Reads: 4,114
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Jan. 20, 2017 12:00 AM EST Reads: 6,339