California Mudslide Expected To Generate Tens Of Millions In Insured Losses

Aon Benfield’s Impact Forecasting unit released a report predicting that the California mudslide brought on by heavy rains following massive wildfires in the region will generate widespread losses. Overall, the report predicts an economic loss above $100 million. That said, the insured losses will be within the tens of millions. Parts of areas surrounding those cities had already been burned away by the massive wildfires that struck the state in recent weeks and months. With the local vegetation burned away, the plants were no longer present to hold the ground in place when the rains arrived.