Los Angeles wildfires News

Smoke, Coverage Issues Cloud Wildfire Forecast: $35-$45B Losses Insured

CoreLogic announced a preliminary range of insured losses for the Eaton and Palisades Fires in Los Angeles of $35 billion to $45 billion, but there are a lot of factors that could change the numbers. “We don’t know,” Tom Larsen, …

Too High? Too Low? BMS Analyzes Early Wildfire Insured Loss Estimates

Industry analysts’ early estimates of insurance industry losses for the January 2025 California wildfires have already grown from $8 billion to $40 billion-plus—with many noting that it’s too early for precision in the numbers. In short, whether they were calculated …

Economists Say Los Angeles Fire to Have Limited National Economic Impact

Devastating fires in the Los Angeles area are likely to put modest pressure on the U.S. national economy in the near term but are unlikely to derail strong forward momentum, economists say. Forecasters reckon the fires’ destruction of property and …

Update: LA Wildfire Insurance-Loss Estimates Approach $40 Billion

The cost of wildfires ravaging swaths of Los Angeles keeps rising, with new estimates of the total losses for the insurance industry now seen as high as $40 billion. The fresh figure Jan. 14 from Keefe Bruyette & Woods analysts …

California Wildfires Wrapup: Aerial Assault Aims to Stem LA Palisades Fire Spread

LOS ANGELES, Jan 11 (Reuters) – Aircraft dropped water and fire retardant on steep hills to stem the eastward spread of the Palisades wildfire in Los Angeles on Saturday as on-the-ground firefighting intensified amid warnings of wind gusts of up …

Update: Re/Insurer Losses From LA Wildfires Expected to Be Significant but Manageable

Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for both insurers and their reinsurers, with preliminary …

Edison Denies LA Wildfire Involvement as Insurers Ask It to Preserve Evidence

Southern California Edison said on Thursday it had received notices from insurance companies to preserve evidence related to the Eaton Fire that is still burning in Los Angeles, but said no fire agencies have pointed the utility’s connection to the …

Catastrophe Bond Funds Say They’ll Dodge Losses as LA Fires Rage

The wildfires sweeping through Los Angeles are unlikely to trigger significant losses for catastrophe bonds designed to capture such risks. Roughly 12% of the $50 billion cat-bond market is currently exposed to wildfire risk, according to Florian Steiger, chief executive …