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The Co-operators offers prelim estimate of Fort Mac wildfires at $70 to $90 million
Says so far, more than 4,300 claims reported
Staff on May 20, 2016
The Co-operators says its after-tax cost of the Fort McMurray wildfires will likely add up to between $70 and $90 million.
In a news release issued just before the Victoria Day long weekend got rolling, it announced that 4,376 claims have been reported to Co-operators General to date. Like other insurers in the Fort McMurray area, the Co-operators has an emergency response team that’s been supporting clients, including on the ground in emergency evacuation centres and temporary office locations in the area.
“This has been a devastating time for the community and residents are looking forward to returning home and starting to rebuild their lives and their community,” said Kathy Bardswick, president and CEO of The Co-operators in the formal statement. “While the return home will mark the start of a new phase for the community, it will also be a challenging time for residents and businesses, and we will be there to help our clients through it.”
The company cautioned that its estimate is only a preliminary one, given that access to the area remains restricted.
The Co-operators offers prelim estimate of Fort Mac wildfires at $70 to $90 million
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