California wildfire losses pegged at $1 billion

The department said the Valley Fire, which destroyed 1,958 homes and other buildings in Lake, Napa and Sonoma counties, caused $700 million in covered losses. The Butte Fire, which claimed 818 buildings in Amador and Calaveras counties, caused $300 million in insurance losses.

The estimates are in line with an earlier calculation by insurer Aon Benfield that the insured fire losses totaled $925 million. Aon said total losses, including those not covered by insurance, came to $1.95 billion.

via Sacramento Bee

California wildfire losses pegged at $1 billion

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