Latest news with #AaronSutherland
Yahoo
4 days ago
- Business
- Yahoo
Insured losses from Jasper wildfire reach $1.3B, Insurance Bureau of Canada says
New wildfire damage estimates for Jasper continue to climb almost exactly one year after a wildfire destroyed about one-third of the townsite in July 2024. In a news release on Friday, the Insurance Bureau of Canada (IBC) reported that insured losses from the Jasper wildfire have risen to around $1.3 billion. The figure, calculated by Catastrophe Indices and Quantification Inc., shows damage cost estimates have increased by $80 million since its last report in January. Aaron Sutherland, IBC's vice-president of the Pacific and Western regions, said damage estimates have risen significantly as reconstruction of the town drags on. He said the original insured losses estimates were around $900 million. IBC said the wildfire, which destroyed 358 homes and businesses in the town, is the second-costliest fire event in Canadian history. The 2016 Fort McMurray wildfires caused $6.2 billion in damages. It reported that the summer of 2024 was the most expensive on record in Canada for catastrophic weather events. Insured damage caused by severe weather in 2024 was over $9.2 billion for the first time in Canadian history. Residents frustrated with permitting delays The release also highlighted that permitting delays are slowing the rebuild process for residents. IBC stated that, so far, 56 structures destroyed by the fire have been approved for reconstruction, and only two of those buildings are currently undergoing actual reconstruction. Sutherland said some residents are beginning to get upset with the length of the permitting process for rebuilding. "We are hearing frustration start to grow … It's been 12 months, and we only have 15 per cent of properties approved for construction." WATCH | Data shows insured losses growing for Jasper residents: Sutherland said one of the key factors for why it is taking so long to rebuild is the complex soil remediation process required for land where properties burned down. However, Sutherland said the federal government has stepped in and is providing $5 million in funds to cover the unexpected cost of soil testing and removal, which he said could bolster reconstruction efforts. He emphasized that it is crucial for construction to begin as soon as possible, or residents may face weather-related delays. "The construction season is only so long that once winter hits, it's much more difficult to rebuild. So we probably only have a few months left before we're going to miss this reconstruction season entirely."
CBC
4 days ago
- Business
- CBC
Insured losses from Jasper wildfire reach $1.3B, Insurance Bureau of Canada says
Social Sharing New wildfire damage estimates for Jasper continue to climb almost exactly one year after a wildfire destroyed about one-third of the townsite in July 2024. In a news release on Friday, the Insurance Bureau of Canada (IBC) reported that insured losses from the Jasper wildfire have risen to around $1.3 billion. The figure, calculated by Catastrophe Indices and Quantification Inc., shows damage cost estimates have increased by $80 million since its last report in January. Aaron Sutherland, IBC's vice-president of the Pacific and Western regions, said damage estimates have risen significantly as reconstruction of the town drags on. He said the original insured losses estimates were around $900 million. IBC said the wildfire, which destroyed 358 homes and businesses in the town, is the second-costliest fire event in Canadian history. The 2016 Fort McMurray wildfires caused $6.2 billion in damages. It reported that the summer of 2024 was the most expensive on record in Canada for catastrophic weather events. Insured damage caused by severe weather in 2024 was over $9.2 billion for the first time in Canadian history. Residents frustrated with permitting delays The release also highlighted that permitting delays are slowing the rebuild process for residents. IBC stated that, so far, 56 structures destroyed by the fire have been approved for reconstruction, and only two of those buildings are currently undergoing actual reconstruction. Sutherland said some residents are beginning to get upset with the length of the permitting process for rebuilding. "We are hearing frustration start to grow … It's been 12 months, and we only have 15 per cent of properties approved for construction." WATCH | Data shows insured losses growing for Jasper residents: New data reveals Jasper wildfire insured losses just under $1.3 billion 2 hours ago New data shows the insured losses from last year's wildfire in Jasper, Alta., are now an estimated $1.3 billion. This is an $80-million increase from the six-month estimate made earlier this year. The July 24, 2024, wildfire destroyed much of the town, and it has yet to see major reconstruction. Sutherland said one of the key factors for why it is taking so long to rebuild is the complex soil remediation process required for land where properties burned down. However, Sutherland said the federal government has stepped in and is providing $5 million in funds to cover the unexpected cost of soil testing and removal, which he said could bolster reconstruction efforts. He emphasized that it is crucial for construction to begin as soon as possible, or residents may face weather-related delays.
Cision Canada
4 days ago
- Business
- Cision Canada
Insured losses from Jasper wildfire rise to just under $1.3 billion
Permitting delays slow rebuilding one year after wildfire EDMONTON, AB, July 25, 2025 /CNW/ - Insured losses from the Jasper wildfire are now estimated to be close to $1.3 billion, according to new data released today by Catastrophe Indices and Quantification Inc. (CatIQ). This is an increase of $80 million over the six-month estimate from CatIQ in January. "One year after the second-costliest fire event in Canadian history, many residents are still working through the process of securing the proper permits to begin reconstruction of their property," said Aaron Sutherland, Vice-President, Pacific and Western, Insurance Bureau of Canada. "Despite delays, residents can rest assured that insurers will stand with them until every claim is closed." The July 24, 2024, wildfire destroyed 358 homes and businesses in the town of Jasper. Today, only 56 (15%) are approved for reconstruction, and only two buildings are currently being rebuilt. "The federal government recently announced that it would be expediting efforts moving forward and providing up to $5 million in additional support to cover the unexpected cost of soil testing and removal. This is a positive move and one that hopefully bolsters reconstruction efforts to begin in earnest," said Sutherland. "There's still a lot of work to do and rebuilding will take time, but there is light at the end of a very long tunnel for Jasper residents who lost so much in the fire. The people of Jasper have shown tremendous resilience, and Alberta's insurers will continue to match that spirit and support their customers every step of the way." Alberta's insurers have been on the ground in Jasper since the first day of the fire and are continuing to provide financial support to residents who lost their homes. Insurers also coordinated and paid for the removal, de-gassing and proper disposal of about 2,300 fridges and freezers ruined by food spoilage due to prolonged power outages during several weeks of the evacuation. This coordinated residential bulk-debris-removal program is helping to reduce costs and speed up recovery in the community. In April, wildfire recovery efforts reached a significant milestone with the completion of the insurer-coordinated debris removal program. Insured damage caused by severe weather events in 2024 surpassed $9.2 billion for the first time in Canadian history (January 2025 estimate was $8.5 billion). Last summer was the most expensive on record in Canada for catastrophic weather events, with 228,000 insurance claims and over $8 billion in insured damage. These events are placing pressure on insurance premiums in Alberta and across the country, and are important reminders of the need to increase investments in resilience and other measures to better protect communities. Governments across Canada have a critical role to play in better protecting Canadians from natural disasters. This includes: Halting the construction of unprotected homes and businesses in high-risk flood and wildfire zones Investing in vulnerable communities to ensure they are FireSmart and better protected against flooding Helping homeowners understand the specific risks they face in their area Subsidizing home retrofits to help reduce exposure to floods and wildfires. Canada also needs a federal coordinating agency to guide emergency preparedness and recovery so that communities across the country don't have to create unique playbooks after each catastrophic event. Every other G7 country has an agency operating in this capacity – it's time for Canada to follow suit and take a proactive approach to emergency management. The amount of insured damage is an estimate provided by CatIQ ( under license to IBC. About Insurance Bureau of Canada Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market. As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow. IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses. For media releases, IN Focus articles, or to book an interview with an IBC representative, visit Follow us on LinkedIn, X and Instagram, and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC. We're here to help. SOURCE Insurance Bureau of Canada
Yahoo
18-07-2025
- Business
- Yahoo
One Year After Jasper Wildfire: Rebuilding Continues Amid Ongoing Challenges
Insurers calling for a national discussion on how to better manage catastrophic events EDMONTON, AB, July 16, 2025 /CNW/ - July 22, 2025, will be the one-year anniversary of the devastating wildfire that swept though the community of Jasper, Alberta, destroying 358 properties and causing an estimated $1.2 billion in insured damage. As rebuilding efforts progress, numerous residents are still experiencing delays in the reconstruction of their homes and businesses. In response, Insurance Bureau of Canada (IBC) is urging the federal government to lead a national discussion with provinces and territories on how to improve the management of disaster recovery moving forward. "Over the past year, the people of Jasper have shown tremendous resilience, and insurers will continue to be there every step of the way to support recovery efforts," said Aaron Sutherland, Vice-President, Pacific and Western, IBC. "Following large-scale disasters, insurers' priority is to rebuild and repair property as quickly as possible so their customers can return to their usual lives." Jasper is situated within a National Park, which means additional measures, including federal soil remediation and recovery requirements, were imposed following the fire. These additional steps have added time, complexity and overall cost to the rebuilding effort, costs which are not typically covered under standard property insurance policies. IBC has worked constructively with the Federal Government, including Parks Canada, on these issues and the Federal Government has committed that it will support the leaseholders by covering the extra remediation costs required to meet Federal remediation standards. The Government has further committed to an expedited process to ensure that the rebuilding process is not delayed further by soil remediation issues. As of July 7, 2025, only 56 of the 358 destroyed properties (15%) have received the necessary permits and approvals to proceed with the rebuilding process. In contrast, following the 2016 Fort McMurray wildfires – the costliest wildfire event in Canadian history, much of the reconstruction began relatively quickly and before the fire's first anniversary. In an effort to avoid additional delays in Jasper, insurers continue to actively engage with all orders of government to resolve outstanding issues. "Delays that prolong the rebuilding process, like we are seeing in Jasper, are occurring more frequently in Canada after large catastrophic events," added Craig Stewart, Vice-President of Climate Change and Federal Issues. "Canada needs a federal coordinating agency to guide emergency preparedness and recovery so that Parks Canada, and other jurisdictions, don't have to create unique playbooks after each catastrophic event. Every other G7 country has an agency operating in this capacity – it's time for Canada to follow suit and take on a proactive approach to emergency management." As delays continue in Jasper, IBC warns that some residents may run out of Additional Living Expenses coverage and many businesses could be exhausting their Business Interruption coverage. It is recommended that policyholders speak with their insurance representative to understand what coverage remains available given these unanticipated delays. The challenges faced during Jasper's recovery should serve as another alarm bell for governments across the country. That is why Canada's insurers are calling on governments to: increase support for communities to complete FireSmart's Community Wildfire Protection Plans, which include firebreaks and guards around at-risk communities; limit new building in unprotected high-risk areas, enhance building codes to mandate the use of fire-resistant materials; and improve wildfire response and suppression capabilities. Quick Facts The Jasper wildfire is estimated to have caused $1.2 billion in insured losses, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). A one-year insured loss update will be released on July 25. For the most recent information on recovery efforts in Jasper, visit Immediately following the Jasper wildfire, insurers took several actions to help expedite recovery and reconstruction efforts. These actions include: Deploying representatives into the community to provide financial support to policyholders, and assisting them with the claims process; Coordinating and paying for a bulk appliance collection and disposal program of contaminated refrigerators and freezers; and, Hiring a contractor to facilitate the coordinated debris removal of damaged properties, a process that was completed at the end of April despite challenging logistics and unexpected added costs. About Insurance Bureau of Canada Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market. As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow. IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses. For media releases, IN Focus articles, or to book an interview with an IBC representative, visit Follow us on LinkedIn, X and Instagram, and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC. We're here to help. SOURCE Insurance Bureau of Canada View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
16-07-2025
- Business
- Cision Canada
One Year After Jasper Wildfire: Rebuilding Continues Amid Ongoing Challenges
Insurers calling for a national discussion on how to better manage catastrophic events EDMONTON, AB, July 16, 2025 /CNW/ - July 22, 2025, will be the one-year anniversary of the devastating wildfire that swept though the community of Jasper, Alberta, destroying 358 properties and causing an estimated $1.2 billion in insured damage. As rebuilding efforts progress, numerous residents are still experiencing delays in the reconstruction of their homes and businesses. In response, Insurance Bureau of Canada (IBC) is urging the federal government to lead a national discussion with provinces and territories on how to improve the management of disaster recovery moving forward. "Over the past year, the people of Jasper have shown tremendous resilience, and insurers will continue to be there every step of the way to support recovery efforts," said Aaron Sutherland, Vice-President, Pacific and Western, IBC. "Following large-scale disasters, insurers' priority is to rebuild and repair property as quickly as possible so their customers can return to their usual lives." Jasper is situated within a National Park, which means additional measures, including federal soil remediation and recovery requirements, were imposed following the fire. These additional steps have added time, complexity and overall cost to the rebuilding effort, costs which are not typically covered under standard property insurance policies. IBC has worked constructively with the Federal Government, including Parks Canada, on these issues and the Federal Government has committed that it will support the leaseholders by covering the extra remediation costs required to meet Federal remediation standards. The Government has further committed to an expedited process to ensure that the rebuilding process is not delayed further by soil remediation issues. As of July 7, 2025, only 56 of the 358 destroyed properties (15%) have received the necessary permits and approvals to proceed with the rebuilding process. In contrast, following the 2016 Fort McMurray wildfires – the costliest wildfire event in Canadian history, much of the reconstruction began relatively quickly and before the fire's first anniversary. In an effort to avoid additional delays in Jasper, insurers continue to actively engage with all orders of government to resolve outstanding issues. "Delays that prolong the rebuilding process, like we are seeing in Jasper, are occurring more frequently in Canada after large catastrophic events," added Craig Stewart, Vice-President of Climate Change and Federal Issues. "Canada needs a federal coordinating agency to guide emergency preparedness and recovery so that Parks Canada, and other jurisdictions, don't have to create unique playbooks after each catastrophic event. Every other G7 country has an agency operating in this capacity – it's time for Canada to follow suit and take on a proactive approach to emergency management." As delays continue in Jasper, IBC warns that some residents may run out of Additional Living Expenses coverage and many businesses could be exhausting their Business Interruption coverage. It is recommended that policyholders speak with their insurance representative to understand what coverage remains available given these unanticipated delays. The challenges faced during Jasper's recovery should serve as another alarm bell for governments across the country. That is why Canada's insurers are calling on governments to: increase support for communities to complete FireSmart's Community Wildfire Protection Plans, which include firebreaks and guards around at-risk communities; limit new building in unprotected high-risk areas, enhance building codes to mandate the use of fire-resistant materials; and improve wildfire response and suppression capabilities. Quick Facts The Jasper wildfire is estimated to have caused $1.2 billion in insured losses, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). A one-year insured loss update will be released on July 25. For the most recent information on recovery efforts in Jasper, visit Immediately following the Jasper wildfire, insurers took several actions to help expedite recovery and reconstruction efforts. These actions include: Deploying representatives into the community to provide financial support to policyholders, and assisting them with the claims process; Coordinating and paying for a bulk appliance collection and disposal program of contaminated refrigerators and freezers; and, Hiring a contractor to facilitate the coordinated debris removal of damaged properties, a process that was completed at the end of April despite challenging logistics and unexpected added costs. About Insurance Bureau of Canada Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market. As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow. IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses. For media releases, IN Focus articles, or to book an interview with an IBC representative, visit Follow us on LinkedIn, X and Instagram, and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC. We're here to help.
