Update: LA Wildfire Insurance-Loss Estimates Approach $40 Billion
The cost of wildfires ravaging swaths of Los Angeles keeps rising, with new estimates of the total losses for the insurance industry now seen as high as $40 billion.
The fresh figure Jan. 14 from Keefe Bruyette & Woods analysts is double their rough initial estimate from just a day earlier. In a note to clients, they cited “continuing upside insured loss potential” as the fires across the region remain largely uncontrolled. Their most optimistic scenario implies insured losses of $25 billion.
Angela C. Duncan, Commercial Realtor at LPT Realty
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