L.A. wildfires to cost insurers more than $20 billion. Three companies are likely to foot most of the bill.
- The Los Angeles wildfires have forced over 137,000 people to evacuate and resulted in at least five deaths, with damage estimates ranging from US$10 billion to over US$50 billion.
- The Pacific Palisades area, home to many celebrities, saw insurance costs that were among the lowest in the country before the wildfires struck.
- Analysts believe insurance losses from the wildfires could reach as much as US$20 billion, exacerbating California's ongoing home insurance crisis.
- The state's insurance commissioner announced new rules that will allow insurers to raise rates and better account for climate risks, effective this month.
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Coverage Details
Total News Sources0
Leaning Left11Leaning Right5Center15Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 36%
C 48%
R 16%
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