Southern New Mexico wildfires bring potential for hundreds of millions in losses: Aon

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Aon, a professional services firm specialising in risk management and insurance solutions, has underscored in their weekly catastrophe report the significant economic impact of the ongoing wildfires in southern New Mexico, where potential losses could soar into the hundreds of millions of dollars.

wildfireRecent wildfires have devastated southern New Mexico, particularly around Ruidoso, resulting in tragic consequences and prompting state of emergency declarations for Lincoln County and the Mescalero Apache Reservation.

The South Fork and Salt Fires have caused two fatalities and two injuries, with over 1,400 structures, including approximately 500 residences, damaged or destroyed.

Communities such as Ruidoso, Sierra Vista, Ruidoso Downs, and Alto have been severely affected, necessitating the evacuation of nearly 8,000 residents.

Firefighting efforts have been hindered by recent severe weather and subsequent flash flooding over burn scars, exacerbating the challenges.

The destruction of over 1,400 structures in Ruidoso alone is expected to lead to substantial economic losses potentially reaching hundreds of millions of dollars.

With the South Fork and Salt Fires remaining uncontained as of June 20, the ongoing risk of further losses underscores the urgent need for continued firefighting efforts and support for affected communities.

The post Southern New Mexico wildfires bring potential for hundreds of millions in losses: Aon appeared first on ReinsuranceNe.ws.

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