CatIQ, a leading provider of loss estimates in Canada, has finalized the financial toll from the devastating Jasper wildfires at CAD $1.30 billion, making it the most costly wildfire in Canada during the 2020s. This estimate slightly decreases from last year’s figure and highlights the significant financial implications of such disasters, despite the limited area affected. Alongside this, CatIQ has revised its loss estimate for a severe storm in Saskatchewan and Manitoba to CAD $850 million, indicating a worrying trend of escalating severe weather events in Canada. The rising number of claims, now exceeding 100,000 this year, underscores the urgency for greater attention to climate-related risks.
