Canadian insurance industry responds to Slave Lake catastrophe

The Canadian insurance industry is leaping to action to assist in the aftermath of the wildfires that caused extensive and severe damage to a northern Alberta town.
Paul Kovacs, executive director for the Institute of Catastrophic Loss Reduction, was quoted by CBC News as saying that the Slave Lake wildfires could be Canada’s costliest wildfire event, potentially eclipsing the $200 million in insured losses that resulted from the 2003 Kelowna wildfires. According to media reports, roughly 40% of the town was destroyed or severely damaged, including the library, radio station, town hall and numerous homes and businesses.
Insurance Bureau of Canada (IBC) has deployed its Community Assistance Pavillion (CAMP) to help affected residents and businesses. The national program provides disaster victims with on-site, quick-response, insurance-related information.
“Home, car and business insurance generally provide coverage for fire. But when disaster strikes, many people are forced from their homes and don’t have their insurance information with them. That’s where CAMP can help,” said Doug Noble, IBC’s vice-president, Alberta and the North.
Aviva Canada and The Co-Operators have also mobilized staff to the area.
In a release, Aviva says it has established a temporary office location in nearby Athabaska, where initial support will focus on issuing cheques for living expenses and other immediate needs for its policyholders.
Once the evacuation order is lifted from Slave Lake, a new temporary Aviva location will be established in the town and adjusters will begin to assess property damage.
The Co-Operators has implemented its Catastrophe Response Plan to serve its approximate 450 clients in the area. The insurer has also made crisis counsellors and additional dedicated insurance professionals available to provide support and assistance.