PCS estimates Canada wildfire claim at $3.5bn

Property Claim Services (PCS) has estimated that industry losses
from the Alberta wildfires could cost C$4.6bn ($3.5bn), sister
publication Trading Risk has reported.
The agency's initial estimate has come in just above the
lower end of AIR Worldwide's modelled loss forecast of C$4.4bn
to C$9.0bn ($3.4bn-$6.9bn) and a $3bn-$7bn forecast from Morgan
Stanley analysts.
PCS typically resurveys insurers for loss estimates several
times before finalising its claims figure for an event, so this
number