Wildfire Damage Assessment Continues In California

  Monday, February 5th, 2018 Source: Insurance Business

The wildfire season in California may be over, but insurers and their customers are still reeling from the aftermath of devastating losses relating to homes, businesses and vehicles. On Jan. 31, California’s Department of Insurance released the final number of total claims and losses. While original estimates put the figure at $2 billion, Insurance Commissioner Dave Jones reported that insurers have received almost 45,000 insurance claims totalling close to $12 billion in losses. In reaction to the announcement, Bill Gatewood, corporate vice-president and director, personal insurance, at Burns and Wilcox said: “It’s a tremendous number. It’s something that’s definitely going to impact the industry.”

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