Alberta fire insured losses cost over 2.8 billion USD

The Insurance Bureau of Canada (IBC) and Catastrophe Indices and Quantification Incorporation (CatIQ) have estimated at 2.8 billion USD, the insured losses due to the fire that broke out on 1 May 2016 in the area of Alberta in Canada.

Following this event, the CatIQ had to identify claims reports: more than 27 000 for property damage, 12 000 for car insurance and 5 000 for commercial insurance policies.

To date, the Alberta blaze is the costliest catastrophe in Canadian history.