The Insurance Bureau of Canada (IBC) and Catastrophe Indices and Quantification Incorporation (CatIQ) have estimated at 2.8 billion USD, the insured losses due to the fire that broke out on 1 May 2016 in the area of Alberta in Canada.
Following this event, the CatIQ had to identify claims reports: more than 27 000 for property damage, 12 000 for car insurance and 5 000 for commercial insurance policies.
To date, the Alberta blaze [4] is the costliest catastrophe in Canadian history.