Insured Losses From Deadly California Wildfires Could Hit $3B

Insured property losses from wildfires that raged through Northern California wine country this month, killing at least 42 people and destroying thousands of businesses and homes, could total $2 billion to $3 billion, a risk-modeling firm said on Thursday. The analysis by Boston-based AOR Worldwide, encompassing anticipated claims for destroyed residences, automobiles, commercial properties and other economic losses, is at least double a preliminary tally estimated last week by the California Department of Insurance. The AOR report said losses would be dominated by devastation in residential areas, especially in Sonoma County, where entire neighborhood blocks were reduced to ashes.