By Reuters
January 23, 2025 – 6:52 AM PST
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(Reuters) – Catastrophe risk modeling firm KCC is estimating insured losses of about $28 billion from the Los Angeles wildfires, making them the costliest wildfires in U.S. history.
Since the fires broke out on Jan. 7, they have burned an area nearly the size of Washington, D.C., killed 28 people and damaged or destroyed nearly 16,000 structures, according to California’s fire department.
U.S. as well as European insurers are expected to face catastrophe-related claims worth billions of dollars from the disaster.
The estimated losses include damage from the fires, as well as smoke, time-element losses for residents in evacuation zones…
