Sandy caused $100M in Canadian insurance claims

Superstorm Sandy caused estimated insured property damage in Ontario and Quebec of approximately $100 million, the Insurance Bureau of Canada says.

The IBC released the preliminary estimate by Property Claim Services Canada, a service that tracks insured losses arising from catastrophic events in Canada, on Wednesday.

PCS-Canada says thousands of claims were filed for damage to homes, cars and businesses after the storm hit parts of Ontario and Quebec between October 29 and 31, killing two people and leaving more than 150,000 people without power.

Winds reaching 100 kilometers per hour toppled trees and power lines, damaged homes and businesses, ripped shingles off roofs and the heavy rains caused flooding and sewers to back up in some residential basements.

The IBC represents private home, car and business insurers.

Sandy is estimated to have caused $50 billion US in damage in the U.S., on its way to Canada, making it the second most destructive storm in U.S. history, after Hurricane Katrina, which hit the Gulf Coast in 2005.

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