The industry is putting to rest any concerns people may have about the cost of their insurance coverage because of the wildfires.
The one in Conception Bay North has consumed over 200 structures, but officials don’t yet have the full picture.
Edward Zhakata, consumer and industrial relations manager with the Insurance Bureau of Canada, says no single event will inflate insurance costs.
Things which have been affecting premiums lately have been external such as higher interest rates, inflation and supply chain disruptions,” says Zhakata.
