B.C. wildfires caused more than $127 million in insured damage: IBC

The Insurance Bureau of Canada (IBC) is reporting that the two most significant wildfires in B.C. this summer resulted in more than $127 million in insured damage, according to Catastrophe Indices and Quantification Inc. (CatIQ).

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“The size and scale of the wildfires this summer have been the largest in British Columbia’s history,” said Aaron Sutherland, vice-president, Pacific, IBC. “These wildfires are yet more evidence that severe weather events are happening with greater frequency and intensity across Canada.”

Insured damage to homes, businesses and vehicles in Williams Lake came close to $100 million, with Elephant Hill suffering insured damage in excess of $27 million. Tens of thousands of residents were evacuated from their communities as a result of the fires.

“Immediately following the evacuations, IBC and Canada’s insurers were on the ground in B.C.’s interior and Cariboo helping evacuees with their insurance-related questions,” Sutherland added.

This story was originally published by Canadian Insurance Top Broker.