Initial estimates from Catastrophe Indices and Quantification Inc. shows the June 30 fire that destroyed much of the Village of Lytton is estimated to have caused $78 million in insured damage.

In announcing that figure, the Insurance Bureau of Canada says there have been about 300 claims made so far, the majority of which have been related to residential properties.

“This wildfire has devastated the community. Canada’s insurers are here to help the residents of Lytton recover, and are committed to help rebuild from this loss,” Aaron Sutherland, the Insurance Bureau of Canada’s vice-president of the Western and Pacific region said.

Sutherland says the Lytton wildfire is a tragic reminder of the increasing risk related to climate change facing communities in BC, and across Canada. They are calling on all levels of government to prioritize investments that better protect families and communities.

In a statement, he says British Columbia’s upcoming renewal of its Climate Adaptation Strategy is a chance for the province to become a leader in Canada in the area. He’s calling on the federal government to develop a comprehensive plan to close governance gaps and improve climate defence overall when it comes to preparing for the future.

“As we continue to see the increasing impacts of our changing climate, it’s clear much more must be done to create a culture of preparedness and build our resiliency to the risks we face,” Sutherland added.

“We all must do better to prepare for wildfires, floods, heat, hail and windstorms. These perils are having an outsized impact on those most vulnerable and, as a result, we must greatly enhance our efforts to mitigate future change and adapt to the new weather reality we face.”

If you’ve been impacted by the Lytton wildfire or have questions about your home or business insurance, you’re asked to call your insurance representative or IBC’s Consumer Information Centre at 1-844-2ask-IBC.