News Formal

Jasper fires could cost insurance industry $700 million: DBRS estimate

  • 📰 SooToday
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 85%

Norge Nyheter Nyheter

Norge Siste Nytt,Norge Overskrifter

A new report from DBRS Morningstar estimates the potential insured losses of the Jasper wildfires at up to $700 million.

The credit ratings agency says it believes potential insured losses from this week's disaster could come close to or even be higher than those incurred in the Slave Lake, Alta. wildfire in 2011, which — adjusted for inflation — reached about $700 million.

Alberta Premier Danielle Smith has estimated that between 30 and 50 per cent of the buildings in the town of Jasper may have been destroyed in this week's blaze. DBRS says because Jasper National Park is one of the most popular tourism destinations in Canada, insurers may also face additional business claims with respect to commercial building and business interruption losses.

DBRS says while the situation is serious, it expects the ongoing 2024 wildfire season to be manageable for Canada's property and casualty insurers as long as no major urban areas are materially affected. The costliest wildfire in Canadian history was the Fort McMurray, Alta. wildfire of 2016, which resulted in inflation-adjusted insured losses of $4.4 billion.

 

Takk for kommentaren din. Kommentaren din vil bli publisert etter gjennomgang.
Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

 /  🏆 8. in NO

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

Jasper fires could cost insurance industry $700 million: DBRS estimateA new report from DBRS Morningstar estimates the potential insured losses of the Jasper wildfires at up to $700 million.
Kilde: YahooFinanceCA - 🏆 47. / 63 Les mer »

Altus Group selling property tax business to Ryan LLC for $700 millionAltus Group Ltd. has signed a deal to sell its global property tax business to tax services and software company Ryan LLC for $700 million.
Kilde: BNNBloomberg - 🏆 83. / 50 Les mer »

Altus Group selling property tax business to Ryan LLC for $700 millionAltus Group Ltd. has signed a deal to sell its global property tax business to tax services and software company Ryan LLC for $700 million.
Kilde: BNNBloomberg - 🏆 83. / 50 Les mer »

Caisse de depot sells $700-million of Couche-Tard shares back to the companyOnce the transaction is complete, the Caisse will still own a 3.5-per-cent stake worth about $2.8-billion
Kilde: globebusiness - 🏆 31. / 66 Les mer »