Jasper fires could cost insurance industry $700 million: DBRS estimate

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A new report from DBRS Morningstar estimates the potential insured losses of the Jasper wildfires at up to $700 million.

The Jasper wildfires could cost the insurance industry up to $700 million, making it one of the most expensive wildfire disasters in Canadian history, DBRS Morningstar said Friday.

The only fire that topped that disaster was the 2016 wildfire in Fort McMurray, Alta., which resulted in inflation-adjusted insured losses of $4.4 billion and was the costliest wildfire in Canadian history.

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