Economic losses from wine country wildfires at up to $8bn
Economic losses from the wildfires impacting Sonoma, Napa, Solano, Lake, and Mendocino counties are estimated at between $6 billion and $8 billion, according to catastrophe risk modelling firm RMS.
The estimate range includes loss due to property damage, contents and business interruption caused by the fires to residential, commercial, and industrial lines of business. Automobile or agricultural crop losses are not included. High penetration rates of wildfire coverage in standard homeowners and commercial policies implies similar insured losses.
Get the latest re/insurance news sent to your inbox every day - Sign up to our free email newsletters
Other stories from Monday's newsletter
New insurtech MGA Wrisk raises £0.5m through crowdfunding
Markel CATCo raises over $1.8bn
R&Q agrees with ProSight Specialty Insurance to manage Syndicate 1110
Global insurance M&A activity slow in 2017
R&Q unit partners with Atlas General
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze