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Since the end of May 2025, several Canadian regions, mainly in the central and western parts of the country, have been battling unusually early forest fires. There are over 200 active fires, with around 100 classified as out of control.
While wildfires are a recurring issue each summer in Canada, the speed and intensity of this year’s blazes are particularly alarming. So far, over 2 million hectares have burned, and more than 26 000 people have been forced to evacuate.
Smoke has even reached Europe and the United States.
In response to the disaster, several oil producers have suspended operations.
Insurance experts warn that the financial toll of these fires could surpass that of the Fort McMurray disaster in 2016. Most insurance claims are linked to residential properties, evacuated businesses, and industrial business interruption.
As a result, insurers operating in high-risk areas are likely to raise their rates.
Read also | Wildfires: a threat to insurers
