California wildfire claims pass $9.4bn, suggests growing industry loss

Harvey Weinstein attends the

October wildfire losses top $9.4 billion: California insurance agency

Insurance Commissioner Dave Jones said that statewide insured losses are now above $9.4 billion, from residential and commercial claims filed as a result of the October wildfires.

The figure represents residential, commercial, automobile and other property claims filed with 260 insurers by December 1, Insurance Commissioner Dave Jones said.

The published information is the result of a formal data call in which more than 260 insurers reported their total claims as of December 1 and includes the destruction and damage for more than 21,000 homes, 2,800 businesses, and more than 6,100 private autos, commercial vehicles, and 788 losses involving other lines of insurance such as agricultural equipment and watercraft. "And behind those staggering numbers are personal stories of tragedy and loss, and 44 individuals whose lives were lost".

It's up from $3.3 billion in losses that Jones announced in late October.

Almost two dozen blazes ripped through the region in mid-October, destroying 8,800 structures and 245,000 acres of land.

People have filed claims about full or partial losses of more than 18,000 homes, a lot of them in Sonoma County, where a blaze destroyed several neighborhoods.

Despite the staggering losses in a short period of time, Jones said there's "no question" insurers have the money available to pay claims.

Some Californians have reported receiving inaccurate information from their insurance companies, Jones said.

"If one person is told the wrong thing by an insurance company, it's not acceptable", Jones said.

Contractors said the cost of rebuilding will rise over the next year because of an increase in the prices of building materials as well as the scarce availability of labor.

The FBI has created a task force to work with state and local agencies to investigate and prevent fraud in relief efforts.

Altre Notizie