Slave Lake losses prompt Marshall & Swift/Boeckh to review reconstruction costs compared to insured values

Wildfire losses in Slave Lake, Alberta have prompted Marshall & Swift/Boeckh (MSB) to launch a major review of reconstruction costs compared to insured values.
MSB, a supplier of local building cost information and analytics, is working on the review in partnership with The Co-operators Insurance Company and the Alberta Motor Association (AMA).
Both The Co-Operators and AMA suffered substantial losses during the Slave Lake area fire that occurred on May 15, 2011, which completely destroyed 433 of the town’s buildings and damaged another 96.
“MSB’s reconstruction cost experts are working side-by-side with customers’ adjusters, contractors and numerous Slave Lake officials,” MSB said in a press release. “These reconstruction cost experts are assisting carriers in understanding the dynamics behind variances in insured reconstruction values and actual built costs for residential and commercial properties in the case of a large scale natural catastrophe.”