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“Saskatchewan Faces Soaring Insured Losses from Extreme Weather”

Vanessa Big Eagle, a band councilor overseeing Pheasant Rump Nakota First Nation homes, personally experienced damage due to severe weather. She described the winds in May as unprecedented, causing significant destruction to her residence. Out of the 54 homes in her community, 23 were affected, with her own house sustaining the most damage.

Insurance claims have been filed for the damaged homes managed by the First Nation, but many are still in need of repairs, leading one family to seek temporary accommodation in a hotel. Big Eagle expressed concerns about the recurring nature of these weather-related damages and questioned the sustainability of budgeting for such incidents annually.

Recent data from Catastrophe Indices and Quantification Inc. revealed a surge in insured losses in Saskatchewan, potentially resulting in increased insurance rates. Saskatchewan witnessed its highest recorded insured losses from severe weather events last year, totaling $450 million, the most substantial amount since data collection began in 2008.

Notably, extreme winds in June caused a record-breaking insured loss of $240 million in the province, followed by the impact of northern wildfires in the previous summer. Laura Twidle, the President and CEO of Catastrophe Indices and Quantification Inc., highlighted the exceptional severity of the past two years in terms of insured losses.

Jason Thistlethwaite, a professor at the University of Waterloo, emphasized the potential repercussions on insurance premiums and coverage for properties unaffected by the recent weather events. He stressed the importance of shifting focus towards preventative measures to mitigate property damage, rather than solely relying on post-disaster recovery.

Meanwhile, repair companies like Leeway Mechanical Inc. in Oxbow, Saskatchewan, have seen a surge in demand for their services to address weather-related damages. The company owners, Duane Lee and Allison Thompson, noted a significant increase in repair requests, including water removal from basements and roof repairs, indicating a heightened workload due to extreme weather conditions.

Similarly, restoration company Fire & Flood reported a rise in calls for assistance, particularly related to basement flooding caused by severe weather. The company’s operational manager, Chris Kaban, attributed the increased workload to the elevated frequency of extreme weather events, necessitating an expansion of their workforce to handle the growing demand for restoration services.

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