Alberta's
insurers on the ground helping residents beginning the recovery
process
EDMONTON, AB, Aug. 27,
2024 /CNW/ - This summer's devastating wildfire
in the Municipality of Jasper and
Jasper National Park resulted in
over $880 million in insured damage,
according to initial estimates from Catastrophe Indices and
Quantification Inc. (CatIQ). The sudden and intense wildfire, which
began on July 22, damaged or
destroyed a third of the community, making it the second most
expensive wildfire in Alberta's
history in insured losses.
"For thousands of residents in Jasper, this has been a time of hardship and
heartbreak — homes and businesses lost, lives uprooted and an
iconic community forever changed," said Aaron Sutherland, Vice-President, Pacific and
Western, Insurance Bureau of Canada (IBC). "Alberta's insurers have been on the ground
assisting customers with financial support and beginning the
recovery process. Rebuilding will take time, and our industry will
support the community every step of the way."
Given Jasper's unique location
in a federal park, multiple levels of government are overseeing
recovery efforts. IBC is calling on all orders of government to
adopt an expedited and coordinated approach to decision-making to
ensure reconstruction efforts can begin as quickly as possible.
"In an era in which flooding, heatwaves and wildfires are
increasingly common and severe, we have learned the importance of
safely returning people to their homes and communities as soon as
possible after disaster strikes," said Craig Stewart, Vice-President, Climate Change
and Federal Issues, IBC. "In the coming months, as rebuilding
efforts get underway, it will be important that all orders of
government work together to establish a clear, effective and
efficient decision-making process to ensure consistent progress.
Every resident of Jasper must
clearly understand the plan to rebuild or repair their homes and
businesses as soon as possible. This will ensure the successful
renewal of a community that has a special place in the hearts of
people across our country and around the world."
The Jasper Wildfire Complex was one of several major
catastrophic events that occurred across the country during a
six-week period this summer. Canada's insurers have also been supporting
customers affected by the Calgary
hailstorm on August 5, as well as
those who experienced major flooding in Ontario and Quebec in July and August. These events have
placed immense pressure on insurance adjusters, who are critical
following natural catastrophes, as they ensure the industry can
support consumers as quickly as possible. IBC and its members are
working with governments and regulators to address adjuster
capacity across the country, and to help communities adopt
strategies to build resilience and mitigate damage from future
wildfires.
"Following the devastating wildfire in Fort McMurray, Alberta, in 2016, the
municipality did an excellent job undertaking important fire
resiliency efforts, with a particular emphasis on reducing home
vulnerability through programs such as FireSmart," added Stewart.
"Governments must invest in disaster mitigation, including rolling
out similar programs to help communities fire- and flood-proof
homes. These investments are critical in helping Canadians prepare
for and recover from the impacts of wildfires and other natural
catastrophes. As Canada embarks on
one of the most ambitious housing plans in Canadian history, we
must remember that the most expensive house is the one you have to
build twice."
Wildfire damage is covered by all home and business property
insurance policies. Residents who have been affected by the
Jasper wildfire or who have
questions about their coverage should call their insurance
representatives, who are able to support consumers with recovery
and reconstruction efforts. Anyone with general insurance questions
can contact IBC's Consumer Information Centre at
1-844-2ask-IBC.
The amount of insured damage is an estimate provided by CatIQ
(www.CatIQ.com) under licence to IBC.
About Insurance Bureau of Canada
Established in 1964, Insurance Bureau of Canada (IBC) is the national industry
association representing Canada's
private home, auto and business insurers. Its member companies make
up the vast majority of Canada's
highly competitive property and casualty (P&C) insurance
market.
As the leading advocate for Canada's private P&C insurers, IBC
collaborates with governments, regulators and stakeholders to
support a competitive environment for the P&C insurance
industry to continue to help protect Canadians from the risks of
today and tomorrow.
IBC believes that Canadians value and deserve a responsive and
resilient private P&C insurance industry that provides
insurance solutions to both individuals and businesses.
For media releases, IN Focus articles, or to book an interview
with an IBC representative, visit ibc.ca. Follow us on LinkedIn,
X and Instagram, and like us on Facebook. If you have a
question about home, auto or business insurance, contact IBC's
Consumer Information Centre at 1-844-2ask-IBC. We're here to
help.
SOURCE Insurance Bureau of Canada