State Farm has reported paying out $2.5 billion for the Los Angeles wildfires in January, more than double what the carrier reported paying out weeks earlier.
“As of March 28, we’ve received more than 12,300 total claims related to the fires and have paid over $2.5 billion to our customers,” State Farm said in a statement on the fires.
State Farm reported more than $1 billion paid out to customers earlier in March.
The latest figures from the California Department of Insurance updated on March 5 show insurance companies paid out more than $12 billion