Active wind-driven wildfires in Southern California that are estimated to have burned more than 1,000 properties and prompted evacuation orders for more than 80,000 residents will likely lead to what industry watchers say will be sizable insured losses.
With the number of burned properties, including in one of the area’s highest value neighborhoods, in just one day the fires may push insured losses to levels not seen in more than a half-dozen years, according to a catastrophe modeler.
Most agree that losses from the fires, which have have collectively burned more that 20,000 acres, will