Adequate insurance key to recovery in the event of environmental disasters

The Fort McMurray wildfire in May 2016 destroyed almost 2,600 homes and resulted in many tales of hardship but Rob de Pruis says one man’s “heart-breaking” story stands out for him.

The director of consumer and industry relations, western, for the Insurance Bureau of Canada, was stationed in the northern Alberta community for a year after the fire forced the temporary evacuation of more than 80,000 people.

At an event to help people with their insurance claims, a man who was nearing retirement age asked for advice, explaining his single-family home had burned to the ground.

“He said, ‘Well, I just paid off my mortgage, my mortgage company did not require me to have property insurance anymore, so I cancelled my property insurance, thinking that was the right thing to do,’” de Pruis recalled…

Does your home insurance cover erratic Aussie weather?

When it comes to natural disasters, no matter how prepared you feel, the damage is inevitable. And with a new report by the Sigma revealing Aussie’s are ‘heavily exposed’ to secondary natural perils, such as bush fires and flash floods, it’s crucial to find out whether your home insurance policy will cover natural disasters.  When it comes to natural disasters, no matter how prepared you feel, the damage is inevitable. And with a new report by the Sigma revealing Aussie’s are ‘heavily exposed’ to secondary natural perils, such as bush fires and flash floods, it’s crucial to find out whether your home insurance policy will cover natural disasters…