Tuesday, November 27, 2018

Camp, Woolsey Wildfires Losses To Hit As Much As $19 Billion

Irvine-based property information provider CoreLogic said today that it has calculated residential and commercial loss estimates for the recent catastrophic Camp and Woolsey wildfires in California, saying those losses are estimated to total between $15 billion and $19 billion. According to CoreLogic, it estimates between $11 billion and $13 billion in losses due to the Camp Fire in Paradise, with total losses from Southern California's Woolsey Fire to be another $4 billion to $6 billion. CoreLogic said the totals are based on the latest post-containment perimeter of both the Camp and Woolsey Fires, and include losses from fire, smoke, demand surge and debris removal. CoreLogic regularly issues reports on the insurance impact of disasters, although the company usually does so for hurricanes, and not so close to home with fires--which typically haven't included such widespread property damage. Image: Woolsey Fire, seen from Simi Valley on the first day.