Although official loss numbers have not yet been released forColorado's Black Forest Fire, the state's insurance associationsays the record-setting blaze may cost insurers more than $100million.

“Adjusters have been in the process of compiling losses forseveral weeks now, and with about 486 homes burned according to ElPaso County, it certainly is the most destructive in [state]history in terms of structures burned in one fire,” Carole Walker,executive director of the Rocky Mountain Insurance InformationAssociation (RMIIA), tells PC360. “Initial estimates showthat damage can be upwards of $100 million in losses.”

On Tuesday, El Paso County assessor Mark Lowderman told theDenver Post that the fire, which started on June 11, burnedmore than 14,000 acres, caused about $85 million in damage tohomes. The total was given after the assessor's office conductedon-site inspections of 2,400 parcels.

According to news sources, there are about 200 large and smallcompanies selling homeowner's insurance in Colorado. Walkersays that typical claims will include partial and total propertyloss, additional living expenses (ALE), content replacement andsmoke damage. She says that while Colorado is more accustomed towidespread and costly hailstorm damage that involves vehicle androof replacement, wildfires are “more personally devastating.”

The estimate comes a little more than a year after theanniversary of the Waldo Canyon Fire, Colorado's previously most-damaging fire.The fire, combined with its sister High Park Fire, both of whichoccurred in late June 2012, caused a combined $567.4 million ininsured losses- about $117 million more than initially estimatedlast year.

The Waldo Canyon Fire, the costlier of the two, triggered 6,648homeowner and auto claims, and the High Park Fire triggered 1,293claims.

“[The Black Forest Fire] is somewhat different to the WaldoCanyon Fire, which was unique to Colorado; while most of ourlarge-scale fires occur in mountainous areas, this affected cityblocks and left what looked like tornado damage, with somestructures untouched and others burned to their foundation,” saysWalker. “The Black Forest Fire damaged decades-old single-familydwellings and many outbuildings containing horses and barns.”