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Insured losses from California wildfires estimated at $9-13 billion

Insured losses from California wildfires estimated at $9-13 billion

Baku. 19 November. REPORT.AZ/ Risk modeling firm RMS said on Monday that it estimated insured losses from the Camp and Woolsey wildfires, which ravaged California, between $9 billion and $13 billion. Report informs citing the RIA Novosti.

RMS estimates insured losses of $7.5 billion-$10 billion from the Camp wildfire and $1.5 billion-$3 billion for the Woolsey fire, which caused massive destruction in Malibu, southern California, where million-dollar homes once stood. At the moment, the total area of fires reached almost 100 thousand hectares. Almost 12 thousand houses and companies were destroyed because of the fires, the death toll is already 80 people, about 1,200 people are considered missing.

Camp Fire in northern California has become the most devastating in state history. In total, over 300 thousand people were evacuated due to forest fires in California, mainly in Los Angeles County, where 170 thousand people were evacuated. The number of missing persons in a deadly fire was 1276 people.

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