According to recent reports, insurers have received more than 12,700 claims relating to the California wildfires. Losses from the fires that ravaged Southern California in October are now estimated to approach close to $3.45 billion.
The California Department of Insurance is monitoring the situation and said it will be several months before the full impact of the fires will be known, but it is expected to be the worst fire loss in 100 years.
The Insurance Services Office has predicted the two most devastating fires in San Diego and San Bernardino counties could cost insurers an estimated $2.04 billion alone.
Topics Catastrophe Natural Disasters California Claims Wildfire
Was this article valuable?
Here are more articles you may enjoy.
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
Experian Launches Insurance Marketplace App on ChatGPT 
Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups 
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
