Insured Losses from California Wildfires Now at $3.3 Billion

As reported on Insurance Journal, the largest California insurers have so far reported more than $3.3 billion in insured losses from the October wildfire siege, now considered the most destructive fires in state history. Insurance Commissioner Dave Jones on Tuesday updated insured loss claims data provided by 15 major insurers for residential and commercial claims resulting from the October wildfires that swept across the state killing 42 people and destroying more than 8,900 properties.Jones and the California Department of Insurance on Oct. 18 reported insured loss numbers had exceeded $1 billion. “In less than two weeks that number has increased more than threefold to more than $3.3 billion,” Jones said. The claims count compiled by the CDI from the fires so far is: 10,016 partial residential losses; 4,712 total residential losses; 728 partial and total commercial losses; 3,200 personal auto losses; 91 commercial vehicle losses; 153 agricultural equipment losses; 111 water craft losses.