However, There Will Be No Short-term Finality As Alam Believes It Could Take Up To 10 Years Before Full Understanding Of The Financial Impact From Fort Mcmurray Is Understood.

There were also significant indirect costs, such as lost timber, medical treatment, and environmental damage. Indeed, Alam believes the cost may still rise further: Its not fully done yet. More data kept coming and Im sure it will keep coming in. However, there will be no short-term finality as Alam believes it could take up to 10 years before full understanding of the financial impact from Fort McMurray is understood. Insurance companies are estimated to have paid out around $4 billion, making the fire the costliest insurance loss in Canadian history. 1,800 family home were lost in the fire, as well as hundreds of other commercial and government buildings. One of the truly remarkable aspects of the Fort McMurray blaze is that no one died as a direct result Marijuana Stocks of the fire. Insurers were warned in September that Fort McMurray is just the first of major wildfires, which will increase in the coming years. Climate change caused by global warming will increase forest fires in the country by 50% before the end of the century. Thats according to a new report from Natural Resources Canada. The report was released last week and warns that even the Fort McMurray wildfire will be surpassed in terms of size, damage, and cost to the insurance industry.

To read more visit http://www.fox8live.com/story/34417500/shop-insurance-canada-says-cost-of-fort-mcmurray-serves-as-industry-lesson

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