California Insurance Dept Estimates Wildfires Losses At $1.05 Billion

"The California Department of Insurance said on Thursday its preliminary estimate for insured wildfire losses was $1.05 billion, based on claims received by the state’s eight largest insurers, adding that it expected the numbers to rise.

Insurers have received 601 claims for commercial property losses, 4,177 claims for partial residential losses and 3,000 claims for auto losses, said California Insurance Commissioner Dave Jones during a media call.

Since erupting on Oct. 8 and 9, the blazes in parts of Northern California have blackened more than 245,000 acres, (86,200 hectares) and destroyed an estimated 6,900 structures as of Thursday, including homes, wineries and other commercial buildings."

Suzanne Barlyn and Sangameswaran S report for Reuters October 19, 2017.