August NL Wildfire Caused $70M in Commercial, Residential, Infrastructure Damages
An August wildfire in Kingston, NL caused doubt $70 million in insured losses, says the Insurance Bureau of Canada.
The fire ignited on August 3 in the Conception Bay North region and spread quickly across at least nine communities on the western side of the bay. Around 3,000 residents were forced to evacuate as homes, businesses, and infrastructure were damaged.
“Our hearts go out to the many individuals and families whose lives have been disrupted by this year’s wildfires and who have lost property,” said Amanda Dean, IBC vice-president for Ontario and Atlantic. “The Kingston wildfire in Newfoundland and Labrador resulted in the highest amount of insured property losses in Atlantic Canada this year.”
Prolonged dry conditions and high temperatures contributed to the wildfire risk in the province. The event highlights the growing frequency and cost of extreme weather events in Canada, putting pressure on insurance claims nationwide, said IBC.
The bureau is calling for investments in resilient infrastructure, wildfire preparedness plans, stricter building codes, and nature-based fire-prevention measures to reduce the impact of future disasters.
Catastrophe Indices and Quantification provided the insured-loss estimate and event description to IBC under a licensing agreement.
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