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25 February 2018

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IBC pegs Fort McMurray wildfire losses at $2.8bn

Laura Board 9 January 2017

Wildfires in Fort McMurray, Alberta, last May caused insured damage of about C$3.70bn ($2.80bn), the Insurance Bureau of Canada (IBC) said.

The IBC, citing Catastrophe Indices and Quantification (CatIQ) figures, said the losses pushed total insured losses in Canada last year to a record C$4.9bn, 53 percent more than the previous C$3.2bn record set in 2013. The IBC blamed the tally on severe weather caused by climate change.

IBC president and CEO Don Forgeron said: "The record damage reported in...

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