Canadian insurers reported estimated losses of C$1.3 bn from the Jasper wildfire C$80 mn above initial projections made in January, according to Catastrophe Indices and Quantification Inc.
This pushes Canada’s total insured catastrophe losses for 2024 to a record C$9.2 bn.
Four major weather events occurring within weeks last summer accounted for over C$8.5 bn in claims across 228,000 incidents, according to the Insurance Bureau of Canada (IBC) and CatIQ.
These included floods in Toronto and Montreal, the Jasper wildfire, and a severe hailstorm in Alberta.
The Jasper wildfire now ranks as the second-costliest in Canadian history. It destroyed 358 homes and businesses in the town center of Jasper National Park.
To date, only two rebuilds have started, and just 56 properties—15%—have received reconstruction permits, IBC Vice President Aaron Sutherland said.
Delays in permitting and high reconstruction costs have slowed recovery. In response, the federal government pledged up to C$5 mn to offset unexpected soil testing and removal expenses. Sutherland called the funding a “positive move” that could help accelerate recovery.
The federal government recently announced that it would be expediting efforts moving forward and providing up to C$5 mn in additional support to cover the unexpected cost of soil testing and removal. This is a positive move and one that hopefully bolsters reconstruction efforts to begin in earnest.
IBC Vice President Aaron Sutherland
The coordinated debris removal effort led by insurers concluded in April. That operation included disposal of roughly 2,300 fridges and freezers damaged by prolonged power outages and extended evacuations, the IBC added.
The wildfire began in mid‑July 2024 and forced the evacuation of around 25,000 residents and tourists. Strong winds pushed flames into the Jasper townsite on July 24, destroying or severely damaging 358 of the town’s 1,113 structures, roughly 30 % of its built environment.
- One firefighter died while battling the blaze, which ultimately burned over 32,000 ha before being declared contained in early September and extinguished by April 1, 2025.
- Earlier estimates placed insured losses at approximately C$880 mn, making Jasper one of Canada’s costliest disasters even at that stage. The newer estimate reflects revised damage assessments, particularly in the commercial sector.
- IBC noted debris removal and other recovery efforts concluded in April 2025, including disposal of about 2,300 spoiled refrigerators and freezers. As of late July 2025, only 56 of the damaged properties (15 %) had reconstruction permits and just two rebuilds had begun. The federal government offered up to C$5 m to help with soil testing and removal to unblock delays.
Together with floods in Toronto and Montreal and a major hailstorm across Alberta, the Jasper event pushed Canada’s insured catastrophes for 2024 to a record C$8.5 bn—more than triple the losses from 2023 and nearly three times the previous record from 2016.
