Report: Insured Losses in Colorado Wildfires Nearly $450 Million

 Wednesday, July 18, 2012

 Insurance Journal

The two most destructive wildfires in Colorado’s history will cost insurers roughly $450 million, a regional insurance association said on Tuesday. The massive figure for insured losses comes from the total 600 homes destroyed and other damages, according to the Rocky Mountain Insurance Information Association. It’s likely the figure will reach or exceed the half-billion-dollar mark, as insured losses for such large fires tend to rise as the claims process continues, according to the group, which had previously said the figure would likely be into the “hundreds of millions of dollars.”
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