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Allstate estimates California wildfire losses at approx $452m

Primary insurance giant Allstate has estimated that the California wildfires will cost the firm around $452 million in losses, before tax, which took its October catastrophe loss tally to $514 million.Allstate said that 11 catastrophe events cost the firm $502 million, which added to $14 million of reserve strengthening on read the full article →

California wildfire insured loss expected to hit $8bn: Aon

Insurance and reinsurance industry losses from the recent California wildfire outbreaks are expected to hit $8 billion, making the event the costliest insured wildfire loss on record, according to Aon Benfield unit Impact Forecasting.With insurers estimates of losses now coming in and at the high-end of expectations in some cases, read the full article →

California wildfires estimated a $5bn to $8bn insured loss

Early estimates for the bill facing the insurance and reinsurance industry from the devastating California wildfire outbreaks are coming in around a range from $5 billion to $8 billion, according to executives at Aon Benfield.Speaking during a presentation, Dan Dick, Executive Managing Director at Aon Benfield Analytics, said that early read the full article →