The Rocky Mountain Insurance Information Association says the Black Forest Fire has produced about 3,630 claims and is expected to cost insurers about $292.8 million.
“Wildfire continues to exact a tragic and financial toll on our state,” says Carole Walker, executive director of the Rocky Mountain Insurance Information Association, in a statement. “But insurance catastrophe adjusters have been on the ground since the first evacuation notice, and the industry is prepared over the long-term to help impacted residents recover and communities rebuild.”
Last week Walker told PC360 losses would exceed $100 million.
June's Black Forest Fire in El Paso County destroyed 486 structures. The RMIIA says the blaze looks to have caused more property damage but, for now, it has generated less home and auto claims than June 2012's Waldo Canyon Fire near Colorado Springs. This wildfire remains the state's most expensive wildfire.
RMIIA updated its insured loss estimate of the Waldo Canyon Fire to about $453.7 million from about 6,648 claims. The trade association's initial insured loss tally was $352.6 million.
RMIIA also updated insured losses of Larimer County's High Park Fire in June 2012 to about $113.7 million from 1,293 claims.
According to Climate Central, the West U.S. is experiencing more fires now than at any time in the past 40 years. The number of large fires in Colorado has doubled since the 1970s, according to the independent organization of leading scientists and journalists on climate change.
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