LA wildfire damages set to cost record $135bn

By Free Republic | Created at 2025-01-10 12:46:04 | Updated at 2025-01-15 12:43:52 5 days ago

LA wildfire damages set to cost record $135bn
BBC ^ | January 10, 2025 | Natalie Sherman and Peter Hoskins

Posted on 01/10/2025 4:30:17 AM PST by C19fan

The Los Angeles wildfires are on track to be among the costliest in US history, with losses already expected to exceed $135bn (£109.7bn).

In a preliminary estimate, private forecaster Accuweather said it expected losses of between $135bn-$150bn as the blazes rip through an area that is home to some of the most expensive property in the US.

The insurance industry is also bracing for a major hit, with analysts from firms such as Morningstar and JP Morgan forecasting insured losses of more than $8bn.

(Excerpt) Read more at yahoo.com ...

TOPICS: Business/Economy; News/Current Events; US: California
KEYWORDS: fire

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Hazard insurance was already an iffy business in California due to regulations and past fires.

1 posted on 01/10/2025 4:30:17 AM PST by C19fan

To: C19fan

*cough, COUGH*

I wrote ‘lottery’ yesterday. Now that word seems insignificant...

2 posted on 01/10/2025 4:32:20 AM PST by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)

To: C19fan

“LA wildfire damages set to cost record $135bn”

Roughly the cost of their Train to Nowhere. I think I’m seeing a funding option, or at least a string for Trump to tie any aid to.

3 posted on 01/10/2025 4:33:07 AM PST by BobL

To: C19fan

Excuse me but.....Didnt Trump tell newscum during Trumps 1st administration that if he didnt change the way he protected the state from wildfires, by either cleaning up or burning off the underbrush, that this was gonna happen?

4 posted on 01/10/2025 4:35:41 AM PST by weezel

To: C19fan

Incinerated on the Altar of DIE!

5 posted on 01/10/2025 4:35:42 AM PST by Uncle Miltie (muslims ARE INBRED IGNORAMUSES. See my "About" page for proof.)

To: C19fan

6 posted on 01/10/2025 4:39:44 AM PST by mewzilla (Swing away, Mr. President, swing away!)

To: C19fan

Impossible to put a price tag on the cost. Sad.

7 posted on 01/10/2025 4:41:23 AM PST by PGalt (Past Peak Civilization?)

To: mewzilla

“Guess where a lot of those State Farm customers went?”

Isn’t it funny how that happened? It’s almost as if they were forced to do that.

8 posted on 01/10/2025 4:41:52 AM PST by MayflowerMadam (It's hard not to celebrate the fall of bad people. - Bongino)

To: C19fan

I know that several years ago my insurance company (USAA) made much more restrictive their California property insurance underwriting standards to more closely align with the ACTUAL risks. And I’m glad they did.

9 posted on 01/10/2025 4:43:16 AM PST by House Atreides (I’m now ULTRA-MAGA-PRO-MAX)

To: C19fan

I have a feeling this will convince any remaining companies who offer insurance to exit the California market.

10 posted on 01/10/2025 4:43:21 AM PST by rottweiller_inc (lupus urbem intravit)

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