wildfires News

California Mudslide Victims ID’d as Crews Continue Survivor Search

The oldest victim swept away in a California mudslide was Jim Mitchell, who had celebrated his 89th birthday the day before. He died with his wife of more than 50 years, Alice. The youngest, 3-year-old Kailly Benitez, was one of …

Alternative Capital Responds to 2017 Catastrophes with ‘Show of Strength’: Aon Benfield

Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …

XL Group: Loss Estimates of $45M Related to Southern California Wildfires

XL Group Ltd. on Wednesday announced preliminary estimates of natural catastrophe net losses of roughly $45 million related to the recent wildfires in Southern California and $20 million related to other events. The estimated losses are roughly evenly split between …

Southern California Edison Blamed in Lawsuit for 3 Los Angeles-Area Wildfires

Edison International’s Southern California Edison was blamed in a lawsuit for three wildfires that destroyed more than 1,000 buildings and killed a firefighter last month in the Los Angeles area. While no official findings about the cause of the fires …

California Wildfires Top Arch Capital’s Q4 Catastrophe Losses of $60M-$75M

Arch Capital Group reports estimated pre-tax losses of $60 million to $75 million from fourth quarter catastrophic events, primarily the California wildfires. This estimated range of losses – net of reinsurance recoveries and reinstatement premiums – updates previous estimates from …

FEMA OKs Disaster Declaration for California

The Federal Emergency Management Agency has made federal disaster assistance available to California to supplement state, tribal and local recovery efforts in the areas affected by wildfires from Dec. 4, 2017 and continuing. Federal funding is available to state and …

Wildfires Cost Montana $240M in Tourist Spending

A new report says summer fires cost the state of Montana $240 million in visitor spending. The Bozeman Daily Chronicle reported preliminary date released by the University of Montana’s Institute for Tourism and Recreational Research estimates that tourists spent almost …

Swiss Re Says Global Insured Catastrophe Losses Will Hit $136B in 2017

Swiss Re AG estimates that global insured losses from catastrophes in 2017 will hit $136 billion, the third-highest on record for the sector, with the United States hardest hit, it said on Wednesday. Total economic losses from natural and man-made …

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 …

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 to the October 2017 Global Catastrophe Recap from Aon Benfield’s Impact Forecasting. The surge in October wildfires killed at least …