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Insured damage from White Rock Lake fire estimated at $77 million

More than 800 claims are expected from this fire, which began on July 13 and grew to cover 83,000 hectares, destroying dozens of homes and buildings, including many in Monte Lake. As of Sept. 23, the fire is classified as being held
White Rock Lake fire
Flames from the White Rock Lake wildfire are seen advancing eastward toward Monte Lake on the evening of Aug. 5, 2021

The White Rock Lake wildfire is estimated to have caused $77 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc.

Catastrophe Indices and Quantification Inc. delivers detailed analytical and meteorological information on Canadian natural and human-made catastrophes.

More than 800 claims are expected from this fire, which began on July 13 and grew to cover 83,000 hectares, destroying dozens of homes and buildings, including many in Monte Lake.

As of Sept. 23, the fire is classified as being held.

The insured damage estimate is almost identical to that connected with the June 30 fire that destroyed almost all of Lytton, with insured damage estimated there pegged at $78 million.

In a statement, the Insurance Bureau of Canada said the wildfires this past summer are a “tragic reminder of the increasing risk facing communities across the province, and country, from a changing climate.”

Tye bureau said that, as climate changes, the frequency and severity of weather events like wildfire are increasing, as are the financial costs borne by insurers and taxpayers.

The bureau said governments at all levels must do more to prioritize investments that build resilience and better protect communities and residents.

According to the bureau, British Columba’s upcoming renewal of its climate adaptation strategy is important. The agency added that Canada must prioritize its work on a national adaptation strategy, including a high-risk flood insurance pool to address climate-related disasters such as extreme heat, wildfires, floods, windstorms and hail.

Those impacted by the fire, or those with questions about their home, vehicle or business insurance, should call their insurance representative or the Insurance Bureau of Canada at 1-844-2ask-IBC.