The Insurance Bureau of Canada is showing a warm heart to Ontarians following the recent ice storm, donating $25,000 to victims who have gone days without electrical power in the cold darkness.
“IBC and its members have a long and proud history of working locally to make a difference,” said Ralph Palumbo, Ontario vice president, IBC. “We hope that this donation will go a long way to help those in need, particularly those who lost food due to power outages.”
The donation is part of the Ontario government’s ongoing ice storm relief efforts.
Working to help communities recover from the ice storm, the government made a commitment to match all corporate donations. The government has also indicated that this initiative will be expanded to communities outside of Toronto.
Toronto officials estimate clean up efforts will surpass $75 million and require more than eight weeks to clean up the thousands of tree limbs scattered throughout the city.
Using the 1998 Ontario-Quebec ice storm as a model, approximately 30 per cent of the claims were commercial, with the average claim being a little more than $8,000.
Property and casualty insurers paid out $1.6 billion for about 840,000 claims following the 1998 storm. (continued.)
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Among the final 100 or so Toronto Hydro customers to have power restored after 12 days of going without were Peter and Mary Lou Rankine, who saw the lights come back on New Year’s Day.
Located on a street between Bayview Ave. and Leslie St., the couple had spent the past week moving between their daughter’s home, the home of friends, and their son’s house.
Toronto has issued extreme cold weather alerts the past few days, as temperatures dip below -20 Celsius at night – without taking into consideration the wind chill.
Through co-ordinations with the Daily Bread Food Bank, Toronto residents who need help will be able to collect a grocery gift card at one of 15 Ontario Works Toronto offices on January 3 and 4. To find out where the gift cards are being distributed, click here.
The IBC represents some 90 per cent of the nation’s property and casualty insurance companies in Canada.
