You are here:HomeNews CenterInsurance News2017California Wildfire Losses Could Top $4.6 Billion

California Wildfire Losses Could Top $4.6 Billion

The wildfires in California could cost insurers $4.6 billion or more in insured losses.
October 24, 2017

The wildfires in California could cost insurers $4.6 billion or more in insured losses, according to Moody’s. Already, insurance commissioner Dave Jones says early data shows initial losses at more than $1 billion, covering commercial and residential structures, personal and commercial vehicles, and agricultural equipment. Moody’s indicates that most of the damage will fall to homeowners and commercial property coverages, with a limited effect on other lines of business like auto physical damage and inland marine.

With more than 7,000 structures damaged or destroyed, residents in several counties across northern and southern California are leaving evacuation centers to access what they have lost and begin the long road of rebuilding and recovery.

Filed under: