CatIQ Discloses Final Industry Loss Estimate for Jasper Wildfire Complex of July 2024; Second Estimate for Prairies Severe Weather Outbreak of June 2026
Toronto, July 22, 2026 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its final industry loss estimate for the wildfire event that affected Jasper, Alberta, between July 22 and August 17, 2024. In addition, it has issued the second loss estimate for the Saskatchewan and Manitoba severe storm outbreak of June 9 and 10, 2026.
The final estimate for the Jasper fire, which provides a snapshot of the insurance market two years post-event, is CAD 1.304 billion. This figure is stable versus the one-year loss estimate of CAD 1.313 billion. The updated loss report for the Jasper event provides a detailed breakdown of property and motor losses by FSA (forward sortation area).
The Jasper wildfire remains, by far, the costliest Canadian fire event of the 2020s, with a total loss only slightly lower than the cumulative total of the decade’s eleven wildfire events to date. Canada has recorded at least one fire-related catastrophe each year since 2023, including five events declared in 2025.
Laura Twidle, President and CEO of CatIQ, commented: “Though the loss footprint for the Jasper wildfire was relatively small, it is an important reminder that even a small number of claims can drive tremendous loss. Of the more than 220 events in the CatIQ catastrophe loss database, Jasper maintains the highest average claim value for both personal and commercial property.”
CatIQ has also provided a six-week post-event estimate for the severe storm outbreak that affected Saskatchewan and Manitoba in the Canadian Prairies in June 2026. This figure, CAD 850 million, marks an increase over the initial estimate, with growth primarily appearing in motor lines. Both estimates cover property (both commercial and residential) and vehicle (motor) claims.
In line with the reporting schedule, a third update of the market loss from the severe storm outbreak in the Prairies will be made available on September 10, 2026, three months after the event start date. FSA-level loss data for the event will also become available at this time.
Twidle continued: “Contrasting the Jasper fire, the severe weather outbreak saw large population centres directly impacted by storms, driving a very large number of claims. As it stands, this event now has the third highest number of claims of any in the CatIQ database. It has been a busy start to the catastrophe season, and we must remember that these numbers are tied to people who have some of their largest investments and assets impacted. There’s been a significant number of Canadians impacted by severe weather and wildfires this year alone, and up to the end of June, the number of catastrophe claims exceeded 100,000.”
About CatIQ and PERILS
Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.
More information can be found on www.catiq.com or www.perils.org
PR Contact
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