An insurance company says two massive wildfires that burned up parts of Northern California did nearly $2 billion in damage, among the costliest blazes the Golden State has ever seen.
The Sacramento Bee reports that a report by insurance company Aon Benfield found the Valley Fire in Lake, Sonoma and Napa counties caused at least $1.5 billion in damage. Damage in Calaveras and Amador counties from the Butte Fire was estimated to cost $450 million.
The report shows about $925 million of the Valley Fire damage is covered by insurance, making it the fifth-worst wildfire insurance disaster in state history.
The fires burned more than 200 square miles and killed six people.
The Oakland Hills Fire of 1991 was California’s most expensive, with damage covered by insurance costing $2.67 billion when adjusted for inflation.
Was this article valuable?
Here are more articles you may enjoy.
Chubb Q3 Net Income Down Slightly on More Catastrophe Losses 
KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event 
Chubb CEO Greenberg: Industry Has to ‘Put Arms Around’ AI Liability 
World’s Largest Retirement Community Set to Borrow $180 Million for More Homes 
