Calgary storms could cost insurers $280m

Storms that hit Calgary, Canada, this summer will cost insurers some C$375 million ($280 million), according to preliminary estimates from the Insurance Bureau of Canada (IBC).

The Bureau estimates that hail and heavy rain on August 4 and 5, 2015, will cost around around C$100 million in insured damage.

Storm damage from a July 21-22 storm will cost a further $230 million in insured damage while a June 12 storm caused $45 million in insured damage, the IBC estimated.

Heavy rain and hail caused flooding in some parts of Calgary forcing the city to enact its Municipal Emergency Plan for part of the day on August 5.