The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on insured losses, total economic losses and damages, credit ratings—and lately worrying outlooks for the effect of the fires on insurance rates. Tens of thousands of properties will be ultimately lost when final counts come in, … Read more
Catastrophe risk modelling specialist Karen Clark & Company (KCC) estimates that the insured loss (from privately insured and FAIR plan policies) to residential, commercial, and industrial properties, and autos from both the Palisades and Eaton wildfires in Los Angeles will sit close to $28 billion.KCC becomes the latest risk modeller to release an initial estimate … Read more
Moody’s RMS Event Response said insured losses for the January 2025 Los Angeles fires will likely fall in the $20 billion to $30 billion range. The Jan. 17 estimate from Moody’s RMS came a day after CoreLogic put out a statement indicating a $35 to $45 billion range of insured losses for two major fires … Read more
Overnight, more details on the scale of the devastation caused by the wildfires burning in the Los Angeles region of California have emerged, with officials saying 10,000 structures have been destroyed across the two main fires, while estimates of losses continue to rise.Wildfires are still burning and containment percentages remains very low for the main … Read more
Editor’s note: This story has been updated with new AccuWeather total loss estimates. With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of destructive Los Angeles area blazes are sure to become clearer—likely pushing up billion-dollar-plus insured loss estimates put forth from fires that are … Read more
