CatIQ, a Toronto-based independent organization that provides industry-wide catastrophe insurance data, has disclosed final industry loss estimates for the 2024 Jasper wildfires in Alberta, with total insured losses of C$1.304 billion.
The figure, released two years after the devastating fires that ripped through Jasper National Park from July 22 to August 17, 2024, is considered stable compared with a one-year loss estimate of C$1.313 billion.
The latest report from PERILS subsidiary CatIQ provides a detailed breakdown of property and automotive damage by FSA (High-Resolution CRESTA Area).
The Jasper wildfire remains Canada’s costliest fire event of the 2020s so far, with total losses only slightly less than the cumulative total of 11 wildfire events so far this decade.
Canada has experienced at least one fire-related disaster every year since 2023, including five events declared in 2025.
CatIQ President and CEO Laura Twidle commented, “While the damage from the Jasper wildfire was relatively small, it serves as a reminder that even a small number of claims can cause significant damage. Of the more than 220 events in the CatIQ Catastrophe Loss Database, Jasper had the highest average claim value for personal and commercial property.”
In addition to the final damage estimate for Jasper, CatIQ has released a second damage estimate for severe storms that occurred in Saskatchewan and Manitoba on June 9-10, 2026.
The estimate of insured losses six weeks after the Prairie Storm event has been revised to C$850 million, an increase from the initial estimate, with the increase occurring primarily on auto lines.
Both estimates cover property (commercial and residential) and vehicle (auto) claims.
Twidle continued: “Compared to the Jasper Fire, the severe weather outbreak resulted in a large number of population centers being directly impacted by the storm, resulting in a large number of claims. As it stands, this event ranks third in the CatIQ database for the number of claims.
“It’s a busy start to disaster season and we must remember that these numbers are relevant to those whose largest investments and assets are impacted. A large number of Canadians have been impacted by severe weather and wildfires this year alone, with the number of disaster claims exceeding 100,000 as of the end of June.”
