Colorado wildfire losses warn insurers on 2022 cat budgets
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Colorado wildfire losses warn insurers on 2022 cat budgets

Louisville, Colorado, USA. 31st Dec, 2021. Homes were burned in the Marshall fire
Photo: Alamy Stock Photo

Ratings agency AM Best has urged insurers to plan catastrophe loss budgets prudently for the 2022 loss year, in the aftermath of devastating wildfires that hit Colorado last month and further exposed rising inflationary pressures on claims costs.

The December 30 Colorado wildfire destroyed over 1,000 homesand damaged over 100 other buildings, and early indications have shown that demand surge and the accelerating inflation of building costs are expected to push loss estimates from the fire higher.


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