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23 November 2018Insurance

California Woolsey fire contained, Camp fire to 95%

The Camp fire in Northern California, officially deemed the most destructive and deadliest wildfire on record in the state, is contained to 95 percent while the Woolsey fire in Southern California is now fully extinguished, according to the California Department of Forestry and Fire Protection (Cal Fire).

The Camp wildfire has burned 153,336 acres, destroying 13,906 residences, 514 commercial and 4,232 other buildings, as of November 22. It has caused 83 civilian fatalities. An estimated 52,000 people have been evacuated, according to Aon’s Weekly Cat Report.

While the Camp fire had destroyed 18,652 structures as of Nov. 22, the second most destructive wildfire in California, the Tubbs fire, has destroyed 5,636 structures, according to Aon.

The fire’s rapid spread caught many residents of Paradise by surprise as the town of roughly 27,000 people fled, Aon noted. Reports indicate that as much as 95 percent of the city was destroyed. Homes, businesses, vehicles, churches, five schools, a hospital, and a rest home were all destroyed by the fast-moving flames. Many of the fatalities occurred after residents were stuck in their vehicles trying to escape the city.

The historic Honey Run Covered Bridge – along Centerville Road which connects Paradise and Chico – was also lost, Aon noted. Other areas, while not directly enduring flames from the Camp Fire, were heavily impacted by the large plume of smoke which blew west-southwestward into Chico and towards San Francisco, Sacramento, and San Jose.

The Woolsey fire has been fully contained as of Nov. 21, 2018, according to Cal Fire. It has burned 96,949 acres, destroying 1,500 structures and damaging 341. It has also caused 3 civilian fatalities.

Substantial damage was incurred to numerous high-value properties in Ventura and Los Angeles counties, Aon noted. This included dozens of celebrity homes and several filming and historical sites. The Paramount Ranch, the site of many Hollywood productions, Reagan Ranch in Malibu Creek State Park, and the Peter Strauss Ranch were each destroyed, according to the report. The Santa Susana Laboratory was partially damaged. Two other notable rehabilitation facilities – Seasons in Malibu and Creative Care – were also significantly damaged.

The overall economic cost of both wildfires – which includes uninsured damage to things such as infrastructure, the electrical grid, agriculture, forestry, etc. – will minimally exceed $10 billion; if not much higher, Aon noted.

2018 will be the second consecutive year in which economic damage from wildfires surpasses $10 billion, and just the second year since 1950 to surpass this threshold, Aon added.

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More on this story

Insurance
3 December 2018   Industry insured losses from the Woolsey fire in Southern California will be at least $2.5 billion, according to estimates by catastrophe risk modelling firm AIR Worldwide.
Insurance
19 November 2018   Insured losses from The Camp and Woolsey Wildfires are expected to reach between $9 billion and $13 billion, according to data provider RMS.
Insurance
19 November 2018   Within the perimeters of the Camp Fire in Northern California and the Woolsey Fire in Southern California 23,044 homes with a total reconstruction cost value (RCV) of approximately $8.6 billion are at high or extreme risk of wildfire damage, according to CoreLogic estimates.