AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,599 Increased By 139.8 (0.55%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

LOS ANGELES: Insurance claims from the recent devastating California wildfires that killed at least 89 people and destroyed 19,000 homes and businesses have reached at least $9 billion, the state's insurance commissioner said Wednesday.

"The devastating wildfires of 2018 were the deadliest and costliest wildfire catastrophes in California's history," said California Insurance Commissioner Dave Jones.

"The tragic deaths ... and over $9 billion in insured losses to date are shocking numbers -- behind the insured loss numbers are thousands of people who've been traumatized by unfathomable loss."

He said the figures released in connection with the three wildfires -- the Camp Fire, The Woolsey Fire and the Hill Fire --  are preliminary.

State and federal authorities announced on Tuesday that it will cost at least $3 billion to clear debris from the blazes.

Most of the insurance payouts -- some $7 billion -- concern the Camp Fire in Northern California, which wiped out the town of Paradise and killed 86 people, making it the deadliest wildfire in recent California history.

Three other people died in the Woolsey Fire, which destroyed hundreds of homes and businesses in Southern California, including the homes of several celebrities in Malibu.

The third blaze, the Hill Fire, also in Southern California, scorched thousands of acres in the Santa Rosa Valley.

Insurance claims for those fires are expected to top $2 billion.

Nancy Kincaid, spokeswoman for the California Department of Insurance, said claims could very well exceed the record-breaking $10.4 billion paid out last year following deadly wildfires that ripped through the state's wine country.

"These are the first numbers we've recorded so far ... and it's possible that very quickly last year's record will be broken," she told AFP.

Copyright AFP (Agence France-Press), 2018

Comments

Comments are closed.