It's important to note that this is just the insured losses - total losses will be much higher.
And while the article points out that earlier estimates were $10-$15 billion my suspicion is that CoreLogic's estimate will still prove to be low
LA wildfires: CoreLogic initial insured loss estimate is $35bn to $45bn
CoreLogic, the risk modelling and catastrophe data company, has provided an initial estimate for insured losses from the Los Angeles, California wildfires, saying the total is expected to fall in a range from $35 billion to as high as $45 billion.
CoreLogic noted that both of the main wildfires that are burning remained only less than 50% contained as of Thursday afternoon, meaning the final insurance and reinsurance market loss estimates may differ.
In a recent update this afternoon, the California fire authorities said the Palisades fire remains only 22% contained, while the Eaton fire is now 55% contained.
The risk modelling and catastrophe data specialist company said a final insured loss estimate will be provided once the wildfires have been fully contained.
CoreLogic is the first catastrophe risk modeller to issue a public estimate for the potential insurance and reinsurance market financial exposure to the still burning wildfires in California.
The estimate for insurance market losses of between $35 billion and $45 billion is based on CoreLogic’s analysis across residential and commercial exposures for the Eaton and Palisades Fires in Los Angeles, California.
The company explained, “This analysis of insured damage for both residential and commercial properties accounts for both fire and smoke damage as well as demand surge, debris removal, clean up and Additional Living Expenses (ALE). The majority of losses are to ....
CoreLogic, the risk modelling and catastrophe data company, has provided an initial estimate for insured losses from the Los Angeles, California
www.artemis.bm
"This home in Los Angeles, the only one still standing in this neighborhood follows similar building principles." But:
It $costs more. *
news.yahoo.com
www.smithsonianmag.com
for "whales" and got zero. BUT:
www.foxbusiness.com
