Insured losses from the Jasper Wildfire Complex have exceeded C$880 mn ($653.4 mn), according to CatIQ – Catastrophe Indices and Quantification.
The Jasper Wildfire Complex was one of several major catastrophic events that struck Canada during a six-week period this summer placing immense pressure on insurance adjusters.
The wildfire started on July 22 and quickly spread, damaging or destroying about one-third of the commercial and residential center of Jasper National Park in Alberta. Catastrophe losses amid severe weather events in Canada estimates $809 mn.
Losses were driven by mid-July rains in southern Ontario, wildfires in Jasper that began on July 22, a hailstorm in Calgary on Aug. 5, and heavy rains from an extratropical cyclone in the Montreal area on Aug. 9
It makes the event the second most expensive wildfire in Alberta’s history in insured losses after the 2016 Fort McMurray fire, said the Insurance Bureau of Canada, and following on the heels of the more than $940 mn in insured losses from severe flash flooding that affected the city of Toronto and parts of southern Ontario in July, it makes for a costly period for the Canadian insurance and reinsurance sector.
IBC and its members are working with governments and regulators to address adjuster capacity across the country, and to help communities adopt strategies to build resilience and mitigate damage from future wildfires.
Alberta’s insurers have been on the ground assisting customers with financial support and beginning the recovery process. Rebuilding will take time, and our industry will support the community every step of the way
Craig Stewart, IBC Climate Change and Federal Issues Vice President
The highest insured loss year recorded by the IBC, with loss and adjusted expenses in 2022 dollars, was 2016. Carriers paid out C$5.96 bn in claims that year, primarily on the Fort McMurray wildfire.
“In an era in which flooding, heatwaves and wildfires are increasingly common and severe, we have learned the importance of safely returning people to their homes and communities as soon as possible after disaster strikes,” said Craig Stewart.
In the coming months, as rebuilding efforts get underway, it will be important that all orders of government work together to establish a clear, effective and efficient decision-making process to ensure consistent progress
“Every resident of Jasper must clearly understand the plan to rebuild or repair their homes and businesses as soon as possible. This will ensure the successful renewal of a community that has a special place in the hearts of people across our country and around the world.”
Following the devastating wildfire in Fort McMurray, Alberta, in 2016, the municipality did an excellent job undertaking important fire resiliency efforts, with a particular emphasis on reducing home vulnerability through programs such as FireSmart.
“Governments must invest in disaster mitigation, including rolling out similar programs to help communities fire- and flood-proof homes. These investments are critical in helping Canadians prepare for and recover from the impacts of wildfires and other natural catastrophe”.
The Jasper Wildfire Complex impacts the Municipality of Jasper, Outlying Commercial Accommodations and various Parks Canada facilities.
Firefighters, Unified Command, and supporting agencies are operating in challenging conditions to protect infrastructure both within and outside the Municipality of Jasper.
Parks Canada campgrounds and places attract millions of visitors each year offers, offering a unique blend of natural beauty, accessibility and variety.
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