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CatIQ pegs 2024 Jasper wildfire insured losses at CAD 1.3bn
CatIQ says the final estimate is stable versus its earlier CAD 1.313bn one-year loss figure and highlights that, despite a smaller footprint, Jasper has the highest average claim value in its database.
CatIQ, the independent Toronto-based organisation that provides industry-wide catastrophe insurance data, has published its final insured loss estimate for the 2024 Jasper, Alberta wildfire. The group put total insured losses at CAD 1,304 million for the blaze that swept Jasper National Park between 22 July and 17 August 2024, and said the updated figure is stable versus the one-year loss estimate of CAD 1,313 million.
The update report from CatIQ, a subsidiary of PERILS, includes a detailed breakdown of property and motor losses by FSA, using CRESTA Zones. CatIQ said the Jasper wildfire remains Canada’s costliest Canadian fire event of the 2020s, with a total loss only slightly lower than the cumulative total of the decade’s eleven wildfire events to date.
CatIQ President and CEO Laura Twidle noted that even a relatively small loss footprint can translate into large losses when the number of claims is limited. She added that, among more than 220 events in CatIQ’s catastrophe loss database, Jasper has the highest average claim value for both personal and commercial property.
Alongside the Jasper update, CatIQ released a second loss estimate for the Saskatchewan and Manitoba severe storm outbreak of 9 and 10 June 2026. Its six-week post-event estimate for insured losses was revised to CAD 850 million, with growth primarily in motor lines, and CatIQ said catastrophe claims exceeded 100,000 by the end of June.