The White Rock Lake wildfire caused an estimated $77-million in insurance damage, according to early estimates from Catastrophe Indices and Quantification Inc.
The loss and exposure indices provider, licensed to the Insurance Bureau of Canada, says more than 800 claims are expected from the Southern Interior wildfire, one of the most destructive blazes in the province.
“As we continue to see the increasing impacts of our changing climate, it’s clear much more must be done to create a culture of preparedness and build our resiliency to the risks we face,” says Aaron Sutherland, Western and Pacific vice-president at the Insurance Bureau of Canada, in a news statement.
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“These perils are having an outsized impact on those most vulnerable and, as a result, we must greatly enhance our efforts to mitigate future change and adapt to the new weather reality we face.”
The White Rock Lake wildfire, stretching from Monte Lake in the north to the northwestern shores of Okanagan Lake, was estimated at 83,342 hectares and destroyed scores of properties, including 78 structures in the Central Okanagan.
As of this month, the wildfire was under control and no longer considered a ‘wildfire of note.’
The majority of insurance claims tied to the fire, according to the release, are expected to relate to residential properties.
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The wildfire in Lytton, B.C., caused a comparable amount of insured damage — at least $78 million, says the Insurance Bureau of Canada.
As of Aug. 4, roughly 300 claims had been filed in relation to that fire, which killed two people, injured others, and razed the majority of homes in the community.
–With files from Doyle Potenteau