Insured Losses From Camp And Woolsey Wildfires Estimated At $9-13 Billion: RMS

Risk modeling firm RMS said on Monday that it estimated insured losses from the Camp and Woolsey wildfires, which ravaged California, between $9 billion and $13 billion. RMS estimates insured losses of $7.5 billion-$10 billion from the Camp wildfire and $1.5 billion-$3 billion for the Woolsey fire, which caused massive destruction in Malibu, southern California, where million-dollar homes once stood. Besides the toll on human life, property losses from the Camp Fire that tore through the mountain town of Paradise make it the most destructive in California history, posing the additional challenge of providing long-term shelter for several thousands of displaced residents.