Colo. Fires to Cost Companies Record-Setting $79.3M

Insurers are looking at a price tag of $79.3 million as a result of destruction caused by four key wildfires that have done away with nearly 300 homes in Colorado this season, according to the Associated Press.

The Rocky Mountain Insurance Information reports that the majority of claims are for damaged or destroyed residences but could also include some business properties.

The $79.3 million price tag easily surpasses the previous record of $18.5 million back in 2000 southwest of Denver.

To date, companies have received more than 1,200 claims amounting to just over $65 million from the state’s two most destructive fires—Hayman and Missionary Ridge.