Kamloops is the Canadian city at the most risk of wildfires over the next few months, receiving a 9.4/10 score, according to a study conducted by home insurance company MyChoice. MyChoice CEO Aren Mirzaian said insurance companies are remaining in high-risk areas in Canada, despite the increasing frequency and severity of wildfires. “In Canada, the insurance market has shown resilience, and we have not yet reached the point where insurers are withdrawing coverage,” said Mirzaian in a blog post. “However, the unprecedented scale of wildfires last year is a clear warning signal.” MyChoice writer Matthew Roberts said Kamloops had a high Forecast Severity Rating (FSR) and a well-above-average Forecast Severity Anomaly (FSA). After Kamloops was Saskatoon (8.8/10). Regina; Kelowna, BC; and Medicine Hat, AB, tied for third place (8.6). Most Ontario cities remained safe compared to the rest of Canada, with a few northern ones such as Timmins and Kenora falling into the higher-risk category for wildfires.Roberts said it should come as no surprise home insurance prices are rising across Canada. Statistics Canada reported Manitoba saw the highest year-over-year home insurance inflation in April (14.2%). After Manitoba was Alberta (11.4%). This was followed by Saskatchewan (11%) and British Columbia (10.7%). He pointed out these inflation rates imply there is a growing financial impact of increased wildfire risk on home insurance premiums.If people live in the areas identified in the study at high risk for wildfires, he said they should consider getting a comprehensive home insurance policy that includes coverage for fire damage, additional living expenses, and emergency evacuations. He added they should ensure their policies provide replacement cost coverage, which will cover the cost of rebuilding people’s homes to a similar size and quality and include content insurance to replace personal belongings.“We need to proactively understand the risks and ensure that Canadian home insurance offerings are robust enough to provide adequate coverage in these challenging times,” said Mirzaian. The BC government warned residents in February low snow pack levels could lead to another catastrophic wildfire season. READ MORE: BC warns low snowpack levels portends another catastrophic wildfire seasonAt the moment, the BC government said snow levels are about 40% below normal across most areas of the province, but especially so in the Lower Mainland and on Vancouver Island, where moisture levels are 70% lower than normal. BC Premier David Eby said he was concerned for “some of the most dramatic drought conditions that have been seen in our lifetime.” To calculate the risk scores for each city, MyChoice relied on FSR and FSA from May to September, which was retrieved from the monthly and seasonal forecasts by the Canadian Wildland Fire Information System. The risk score for each city was determined after combining the weighted averages of the two metrics from May to September, offering a comprehensive assessment for each of them.
