losses News

Tougher Utility Rules Being Considered in Wake of California Wildfires

California utilities may face tougher safety rules for power lines, phone lines and utility poles in parts of the state most prone to wildfires. Under the proposed rules being considered by the California Public Utilities Commission, tree branches would have …

Farmers Reports $1.2B in Claims from Northern California Wildfires

Farmers Insurance reported it has received more than 4,000 claims from the Northern California wildfires to date at an estimated gross cost of $1.2 billion. With reinsurance, the Los Angeles-based carrier estimates its incurred loss will be $140 million, and …

Wind Threat Remains as Crews Gain on Huge California Wildfire

After achieving increased containment on one of the biggest wildfires in California history, officials warned that communities remain at risk and the threat could increase as unpredictable winds whip up again. Red Flag warnings for fire danger due to Santa …

California Commissioner Wants Halt to Moratoriums in Wildfire Areas

California Insurance Commissioner Dave Jones has issued a formal notice to insurers directing them to cease any and all moratoriums on auto insurance and reminding them that California law prohibits the practice. Jones issued the notice in response to insurers …

California Governor Says Firefighting at Christmas May Become Normal

A week of destructive fires in Southern California is ending but danger still looms. Well into what’s considered the wet season, there’s been nary a drop of rain. That’s good for sun-seeking tourists, but could spell more disaster for a …

How A Dry Spell Allowed Winds to Lash California With Flames

The hot, dry Santa Ana winds whipping up the unseasonably fierce wildfires ravaging Southern California have come at the worst time, at the end of a long dry spell. The combination of savage Santa Anas and tinder-dry plants have ignited …

California Wildfire Claims Now Top $9.4B, Department of Insurance Says

California Commissioner Dave Jones announced on Wednesday that total of insured losses from the wildfires in California in October now top $9.4 billion in residential and commercial claims. The latest figure is near the upper end of estimates given so …

Southern California Fires Prompt Evacuations of Thousands from Homes

Ferocious Santa Ana winds raking Southern California whipped explosive wildfires Tuesday, prompting evacuation orders for thousands of homes. The biggest blaze broke out Monday in Ventura County and grew wildly to more than 48 square miles in the hours that …

RenaissanceRe: $90M Estimated Net Negative Impact from California Wildfires

RenaissanceRe Holdings Ltd. said it estimates that losses from the October 2017 California Wildfires will have a net negative impact of $90 million on its fourth quarter 2017 results of operations. The October 2017 California Wildfires caused widespread damage to …

California’s Wine Industry Taking Stock of Losses After Wildfires

Although still burning, the largest fires that have devastated California wine country are mostly contained, and winemakers, winery owners, and growers began taking stock this week of what they have—and haven’t—lost. The numbers are numbing: at least 42 dead, nearly …