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The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn. -
Investigators are homing in on the likely causes of the incidents.
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The number of structures damaged may put the event on par with the fires of 2017 and 2018.
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Many are confident the regulatory changes will still stabilize the market in the near-term.
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A quick roundup of our best journalism for the week.
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Sources are saying 2025 could be as expensive for wildfires as the $20bn loss years of 2017 and 2018.
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Total economic and insured losses are “virtually certain” to reach into the billions.
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AM Best said it expects insured losses from the California wildfires to be “significant”.
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The review follows Velocity’s acquisition by FM Group.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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The carrier tapped the run-off market in Q4 for a US casualty insurance-focused portfolio.
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The broker cautioned unresolved Russia-Ukraine claims remain a ‘Black Swan’
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