The cost to the insurance companies will be easily measured in the tens of billions of dollars. Yet insurance companies are not charitable organizations, giving away money.

The Hill

Washington

District of Columbia

United States

The LA crisis is bigger than the fires — insurance is the next burning issue

The ongoing Los Angeles fires, according to analysts, appear to already be the costliest wildfire event in California history.

Ad Fontes Media

All Sides

Media Bias/Fact Check

abc News

The Walt Disney Company

Los Angeles fire losses could reach $30B for insurers

Nexstar Media Group

New rules enacted last September for the insurer of last resort in California—the Fair Access to Insurance Requirements (FAIR) plan—could leave homeowners insurance policyholders statewide on the hook for covering losses if totals exceed the plan’s ability to pay.
“The bottom line is the FAIR plan will have enough money to pay claims, but the way it will make sure it has enough money is by assessing all California policyholders, eventually,” Dav…

The Epoch Times

Epoch Media Group

New York

All California Insurance Policyholders Could Have to Pay for LA Fire Losses

As wildfires continue to devastate parts of Los Angeles, insured losses are projected to be in the tens of billions of dollars.

City News

Rogers Communications

Toronto

Ontario

Canada

B.C. insurance exec concerned by damage claims in L.A. wildfires

Benjamin Fanjoy/Bloomberg via Getty Images (LOS ANGELES) — Multiple fires raging across the Los Angeles area will cost insurers as much as $30 billion, Wells Fargo and Goldman Sachs estimated in a report released this week. After accounting for non-insured damages, the total costs will balloon to $40 billion, the report said. The ongoing fires, according to analysts, “appear to already be the costliest wildfire event in California history.” The …

WBAL

Hearst Communications

Baltimore

Maryland

Los Angeles fire losses could reach $30 billion for insurers

Forest fires that have ravaged large areas of Los Angeles could cause losses of up to 30 mmdd to the insurance industry.

Los incendios forestales que han asolado amplias zonas de Los Ángeles podrían ocasionar pérdidas de hasta 30 mmdd a la industria de seguros.

Costarían incendios en Los Ángeles 30,000 mdd a aseguradoras

Reforma

Mexico City

Mexico

It would cost fires in Los Angeles 30,000 mdd to insurers

The new figure released on Tuesday by Keefe Bruyette & Woods analysts doubles its initial estimate of just a day earlier

La nueva cifra publicada el martes por los analistas de Keefe Bruyette & Woods duplica su estimación inicial aproximada de apenas un día antes

Las pérdidas por incendios forestales en Los Ángeles se estiman en US$40.000 millones

larepublica.co

Bogotá

Bogota

Colombia

Los Angeles forest fire losses are estimated at $40 billion

The devastating wildfires tearing through Los Angeles are now projected to cause losses of up to $30 billion for the insurance industry, nearly a week after they first ignited.
This new estimate, released by analysts from Wells Fargo & Co and Goldman Sachs Group Inc, significantly surpasses previous predictions. Last week, JPMorgan Chase & Co had estimated the damage at around $20 billion.
Home-insurance providers are expected to shoulder the la…

The Express Tribune

Pakistan

Insurance losses from LA wildfires expected to reach $30b

Los Angeles fire losses could reach $30 billion for insurers
This is the "costliest wildfire event in California history."
Multiple fires raging across the Los Angeles area will cost insurers as much as $30 billion, Wells Fargo and Goldman Sachs estimated in a report released this week.
After…

BizToc

Five wildfires in Los Angeles have already burned more than 10,000 structures, threatening to upend California's fragile balance between climate risk and home insurance. The Palisades Fire has damaged or destroyed more than 5,000 buildings in an area that liability experts had previously identified ...

The LA crisis is bigger than the fires — insurance is the next burning issue

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