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California’s Wildfire Insurance Bill Rises to $11.4B
The cost of the November 2018 wildfires has risen to $11.4 billion, a 25% increase from California Dept. of Insurance’s initial report last month. Insurance Commissioner Ricardo Lara said insured losses reported from the November 2018 fires now total more than $11.4 billion.
That number is up more than $2.3 billion from losses the Department reported in December. More than 13,000 insured homes and businesses suffered a total loss, out of more than 46,000 claims reported by insurers.
Commissioner Lara said, “Today, we have a clearer picture of the loss from the devastating Camp and Woolsey fires. The Department of Insurance is here to help. To date, we have assisted more than 5,000 survivors of the November fires. To the residents of Paradise, Butte, Malibu, Los Angeles and the other communities who have lost so much—we stand with you on the long road to recovery.”
For comments, questions or concerns, please contact Dennis Kaiser
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