Alberta Fire Could Cost $1B in Losses

Losses from the devastating wild fire blazing in western Canada are nearing $1 billion, and will likely set records for the country, insurance industry experts said.

Record-breaking heat, high winds, and dry soil combined to fuel an inferno that forced the evacuation of the Alberta city of Fort McMurray and its population of more than 80,000. The CBC reported Thursday that evacuations were spreading as the fire moved south.

More than 1,600 structures have been destroyed by the fire, mostly homes and office buildings, disaster forecasting experts at Aon Benfield said in a report late Wednesday.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza