sandorski
No Lifer
- Oct 10, 1999
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Bank of Montreal guestimating insurance costs could go up to $9 billion.
http://www.cbc.ca/news/business/fort-mcmurray-insurance-cost-1.3568113
I'm reading people talk about how this will be great for the economy. Ya, that money has to come from somewhere... Good luck to the half dozen or so major banks/insurers that may go insolvent. The town's in the middle of nowhere so an insurer or two may be carrying more coverage than others.
Also, apparently a new school burned down, and a hotel at the airport.
There will need to be Government Funds brought into the rebuild. Even before the rebuild a lot of $ is going to be needed to House and Feed all these displaced people. It will stimulate Alberta's economy for sure, but at a great cost.