Are insurance companies ready to handle a major disaster?
What would happen to insurance companies if Canada is hit by a major catastrophe?
While the Calgary floods of 2013 and the Fort McMurray wildfire hit insurance companies hard, a report from the University of Calgary warns larger disasters could lead to the financial collapse of the industry.
Risk Management Professor Anne Klefner said when you have a multi-billion dollar event, it could see some firms crumble.
Original Article Source Credits: City News , https://edmonton.citynews.ca/
Article Written By: Cindy White
Original Article Posted on: Oct 10, 2019
Link to Original Article: https://edmonton.citynews.ca/2019/10/10/are-insurance-companies-ready-to-handle-a-major-disaster/