Fort McMurray – We Will Rebuild!!!


Canada’s costliest-ever natural disaster – by Catherine Ngai

CALGARY, July 7 (Reuters) – Insured losses from the May wildfires in Fort McMurray, Alberta, are expected to total C$3.58 billion ($2.76 billion), making it the costliest-ever Canadian natural disaster, an insurance industry group said on Thursday.

The losses far exceed those from the Alberta floods of 2013, which cost about C$1.7 billion in claims, the Insurance Bureau of Canada (IBC) said in a report. It noted that the biggest previous insurance loss from a wildfire had been C$700 million from one in Slave Lake, Alberta, in 2011.

The wildfires in the oil sands hub of Fort McMurray forced the evacuation of some 90,000 residents, shuttered numerous oil sands operations and cut Canada’s crude output by more than 1 million barrels a day.

Leave a Reply

Your email address will not be published.