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Insured losses from Cal wildfires top 11 billion as claims roll in

Insurers are paying out 11.4 billion dollars so far to cover losses caused by the wildfires that ravaged California in November – and that number is going to grow, state Insurance Commissioner Ricardo Lara announced Monday.

Insurers are paying out 11.4 billion dollars so far to cover losses caused by the wildfires that ravaged California in November – and that number is going to grow, state Insurance Commissioner Ricardo Lara announced Monday.

“These are massive numbers,” Lara said to reporters. Furthermore, people are expected to continue reporting insured losses for months, and the figures don’t include uninsured losses, he added.

The figure announced Monday was a jump from the preliminary 9.05 billion dollars the department reported in December after the Camp and Woolsey fires, which together killed 89 people and left thousands homeless, and the Hill fire, which was destructive as well.

Insurers reported more than 46,000 claims, and more than 13,000 insured homes and businesses suffered a total loss, Lara said. The data reflect damage to homes, businesses, personal and commercial vehicles, and agriculture, among other things.

“Today, we have a clearer picture of the loss from the devastating Camp and Woolsey fires,” Lara said. “To the residents of Paradise, Butte, Malibu, Los Angeles and the other communities who have lost so much – we stand with you on the long road to recovery.”

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