Looking ahead in 2010 and 2009 Canadian Property Loss Recap

As we close out a historic year for CDRG and for Canadian disaster restoration, I'd like to wish you all a prosperous and healthy 2010. It's been an exciting year for us - those of you who've been a part of the rush here on the newsletter have shared our excitement for bringing CDRG to insurers and have joined us in this great journey.

I'm grateful for your continued interest and support - the entire CDRG team supporters have been pivotal in the CDRG success. When we faced challenges, the support expressed here by the CDRG team never failed to encourage us.

And on behalf of J-F Raymond, Kimberly Brown, Kathy Bero and the team, I'd like to give thanks to the people who you don't hear from every day, but who are nonetheless integral to our success as a company... To the CDRG team supporters (and their families and friends) across Canada: What a great year! The restoration change has begun.

2009 Canadian Property Loss Recap

Three severe Canadian weather events in 2009 caused insured damages totalling Cdn$637 million: IBC
Three separate severe weather events occurring in Alberta and Ontario in 2009 caused insured damages totalling Cdn$637 million, according to figures released by the Insurance Bureau of Canada (IBC)
IBC says the various storms highlight the need for urgent action in managing the impact of climate change.
In Alberta, deadly windstorms tore through the province between Aug. 1 and Aug. 3, resulting in insurance payouts to claimants totalling Cdn$365-million.

Torrential rains in the Ottawa and Hamilton regions between July 24 and July 26 resulted in Cdn$196 million in insurance payouts.

And in mid-August 2009, a series of at least 14 tornadoes touched down in the Greater Toronto Area, causing insurance payouts in excess of Cdn$76 million.

“This year’s experience supports what insurers have known for some time," IBC president and CEO Don Forgeron said in a press release. "Weather patterns are changing for the worse and severe weather events are becoming increasingly costly.

“An unfortunate amount of storm damage is caused by infrastructure failure. Local systems are overwhelmed and unable to handle current levels of precipitation.”

The insurance industry has long advocated to governments at all levels for adequate funding to renew municipal sewer and surface water infrastructure, IBC says.