INSURANCE CLAIMS - "WATER IS THE NEW FIRE."

Aug 28, 2012

By Michael Kramer

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Huge  thunderstorms that dumped hail and brought powerful winds to Ontario and Quebec last month caused more than 80 million dollars in damage.

Pete Karageorgos is the  manager of consumer and industry relations with the Insurance Bureau of Canada.

He says there has been more extreme weather in recent years and it’s  changed the Canadian insurance industry .

Karageorgos says  water damage claims are increasing and “water is the new fire.” 

Two days of storms in July brought down trees, power lines, and caused flash flooding in an area from Hamilton, Ontario up to western Quebec.

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