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California Wildfires Costliest Ever

Aon Benfield’s Global Catastrophe Recap report for October reveals that the major wildfire outbreak in California could become the costliest insured wildfire in history...
November 14, 2017

Aon Benfield’s Global Catastrophe Recap report for October reveals that the major wildfire outbreak in California could become the costliest insured wildfire in history. The nearly two-dozen wildfires killed at least 43 people, injured 185 others, and damaged 9,300 structures. The California Department of Insurance cited that at least 19,000 residential, commercial, and auto claims had already been filed with payouts exceeding $3.32 billion. This total was expected to rise to as high as $8.0 billion as additional claims are processed. On aggregated basis, this is costliest insured wildfire event ever recorded, according to Aon’s report.

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