Fort McMurray Wildfire Insured Costs Highest In Canada’s History

 Friday, July 15, 2016

 Live Insurance News

The tremendous Fort McMurray wildfire that ripped through the region in Alberta, Canada was the costliest in the country’s history. No other disaster brought such great expense to insurance companies. The Insurance Bureau of Canada (IBC) estimates a total cost of $3.58 billion. Canadian insurance companies have never faced an cost that large from any single disaster in history. The IBC issued a report based on information collected through a survey of insurance companies. With this information, the IBC calculated a likely total insured cost from the Fort McMurray wildfire. When all was said and done, the fire destroyed 2,400 homes and buildings.