California Wildfires News

California Fires Will Add to 2017 Insurer Catastrophe Losses, Fitch Says

No U.S. reinsurance companies in Fitch Rating’s rated universe are expected to be downgraded as a result of losses from the California wildfires alone, but for a number of companies the impact of wildfire losses adds to substantial catastrophe losses …

Modeler: Insured Losses for California Wildfires Could Reach $10.5B

Loss estimates for the October California wildfire siege could reach up to $10.5 billion, according to catastrophe modeling firm AIR Worldwide. Boston, Mass.-based AIR on Thursday updated its loss estimates for the recent wildfires after analyzing findings from its damage …

California Utility Blamed in 3 Suits for Deadly Wildfires

Pacific Gas and Electric Co. was blamed in three lawsuits filed this week for negligence in the wildfires that killed more than 40 people and destroyed over 8,000 homes in Northern California last month. The lawsuits allege the San Francisco-based …

Insurers Had Crews Working in Heart of California Wildfires to Prevent Loss

“It was all hands on deck.” That apt description of the reaction to the deadly outbreak of wildfires that ravaged California in October was from Stephen Poux, global head of risk management and loss prevention for AIG’s private client group. …

Wineries Looking to Make Up Losses Following California Wildfires

A month after deadly wildfires swept through California’s famed wine country, hot-air balloons are floating again over Napa Valley vineyards splashed with fall colors. On the heels of the disaster, a new winery is opening, keeping the name it chose …

Study Will Test California Firefighters’ Toxin Exposure

Researchers are studying whether firefighters suffered any toxic exposure in last month’s deadly Northern California wildfires. The San Francisco Chronicle reported that researchers plan to take blood and urine samples from 200 firefighters for the study. A cancer-research organization of …

California Wildfires May Lead to $8B in Insured Losses: Aon Benfield

California’s historic wildfires may lead to as much as $8 billion in insured losses. That’s a record for insurers, according the October 2017 Global Catastrophe Recap from Aon Benfield’s Impact Forecasting. The surge in October wildfires killed at least 43 …

Someone Else’s Wires May Have Started California Wildfires, PG&E Says

The deadliest of last month’s wildfires in California’s wine country may have been started by electrical equipment not owned or installed by Pacific Gas and Electric Co., the utility said in a court filing. PG&E said in a legal filing …

New Phase in California Wildfire Cleanup: Clearing Ruins

Rumbling bulldozers and front-loaders have started scraping up the ash, charred wood and crumbled bricks and concrete left from thousands of homes and buildings destroyed by blazes in California wine country, launching a new phase in the largest wildfire cleanup …

Utility in California Expecting $200M in Costs for Power Restoration after Fires

A California utility expects costs to be as much as $200 million for restoring power after last month’s devastating wildfires. The San Francisco Chronicle reported Friday that Pacific Gas & Electric Co. chief Jason Wells told investors he will seek …