camp fire News

California Commissioner Wants Insurers to Waive Inventory Requirement for Wildfire Victims

California Insurance Commissioner Dave Jones is asking residential insurers to pay at least 75 percent and up to 100 percent of personal property or contents coverage in the event of a total loss without requiring policyholders to provide detailed personal …

Official Figure on Insured Losses for 2018 California Wildfires Reaches $9B

The official tally for insured losses from this year’s major California wildfires is $9.05 billion – for now. California Insurance Commissioner Dave Jones on Wednesday released official figures for losses from the Camp Fire in Northern California and the Woolsey …

PG&E Sued for Ad Spending Instead of on Preventing Events Like the California Wildfire

PG&E Corp. was accused of putting its “reputation above public safety” in a lawsuit alleging that the power company spends too much on advertising and not enough on preventing devastating Northern California wildfires like the one that destroyed the town …

Modeler: Insured Losses from Camp Wildfire in California at $6B to $9B

Catastrophe modeling firm AIR Worldwide estimates that industry insured losses from the Camp Fire in Northern California will be between $6 billion and $9 billion, and taken together with the Woolsey fire in Southern California AIR estimates industry insured losses …

Report Puts Losses from California Wildfires at $15B to $19B

Total losses from the wildfires in Northern and Southern California could reach from $15 billion to $19 billion, a report out on Tuesday shows. The report from industry data provider CoreLogic shows total losses from the Camp Fire, the most …

A.M. Best Assesses Wildfires’ Effect on Home Insurance Market, Insurers’ PG&E Exposure

Roughly one-in-10 insurers have exposures to PG&E bonds, which could potentially used to payout on losses from the California wildfires, according to ratings agency A.M. Best. It was recently determined that a second power line of PG&E Corp. failed the …

Latest Estimates of Insured Losses from California Wildfires at $9B to $13B

Insured losses from the Camp and Woolsey wildfires in California will be between $9 billion and $13 billion, according to the latest estimates from catastrophe modeler RMS. RMS’ latest estimates released on Monday show $7.5 billion to $10 billion for …

$8.6B Worth of Homes at High or Extreme Risk from California Fires

A report out on Friday shows 23,044 homes with a total reconstruction cost value of $8.6 billion are at high or extreme risk of wildfire damage within the perimeters of the Camp Fire in Northern California and the Woolsey Fire …

California Commissioner Wants Fire Claims Expedited, 9K Properties Lost

California Insurance Commissioner Dave Jones on Thursday issued a notice to insurers requesting they agree to expediting claims handling for Camp and Woolsey wildfire survivors to help them begin the recovery and rebuilding process more quickly. The Camp Fire, the …

Insurers’ Firefighting Teams Move to Limit Damage from California Wildfires

California’s raging wildfires are so bad that American International Group Inc. and Chubb Ltd. are deploying teams of specialists and former firefighters to spray retardants on homes. The season may soon rank among the industry’s most costly. The latest blazes …