Colorado wildfires cause nearly $450M in insured losses: Insurance group

GREENWOOD VILLAGE, Colo.—This season’s wildfires in Colorado have caused $449.7 million in insured losses, the Rocky Mountain Insurance Information Assn. said Tuesday.

Collectively, the Waldo Canyon fire in Colorado Springs, Colo., and the High Park fire near Fort Collins, Colo., have burned more than 600 homes, the RMIIA said in a statement.

The Waldo Canyon fire is estimated to be the most expensive in the state’s history, triggering 4,300 claims and $352.6 million in insured losses, the Greenwood Village, Colo.-based association said. The High Park fire has caused 850 insurance claims and estimated insured losses of $97.1 million, the association said.

“The 2012 wildfire season is a heartbreaking reminder to Coloradans that the wildfire threat is very real in our state and can exact a price that is both personally devastating and costly in terms of insurance damage,” RMIIA Executive Director Carole Walker said in a statement.