Fort McMurray wildfire could cause insurance rates to increase

Firm News

Insurance companies keep reserves for unanticipated events, such as fires, floods and storms, says Raman Johal in an interview with CBC News. However, the reserves start to dwindle or deductibles may increase in those areas that are more prone to natural disaster, explains Raman. Read the full article to learn more about the potential effects of the Fort Mac fire on the insurance industry.