Fort McMurray insurance losses may be more than $9 billion

Fort McMurray insurance losses

The wildfire that continues to devastate the Canadian city is expected to be the most expensive in the country’s history. The Fort McMurray insurance losses resulting from the devastating wildfire that has burned its way through the city in the Canadian province of Alberta is expected to bring about the largest insured property losses the country has ever experienced from a single disaster. In fact, one analyst has estimated that the insured losses could come to a massive total as high as CAD$9.3 billion. The Fort McMurray insurance losses are…

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Homeowners insurance is running from Californian wildfires

insurance industry fire insurance

As the brush fires and blazes moved ahead, insurers started to step back from providing coverage. Near the start of October, homeowners insurance companies found themselves covering the majority of the almost 5,000 claims that were made as a result of two wildfires that occurred in September in Northern California and agreed both to provide the policyholders with a larger amount of time in which to document their claims and to boost the speed of the payments. That said, following one of the worst wildfire seasons in the state, the…

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