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The 2024 loss figure exceeded that of the previous record of C$6.2bn in 2016. -
The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.
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Utilities have faced major liabilities for their involvement in starting wildfires.
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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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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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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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It is understood that the bid is part of Sisa’s expansion plans across Central America.
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Moody’s also expects losses in the billions of dollars.
