LA Wildfire Insured Losses Total Billions of Dollars, Ratings Agencies Say
The wildfires burning in the Pacific Palisades, Eaton, Hurst and other Los Angeles neighbourhoods may lead to insured losses of more than $8 billion, analysts at Morningstar DBRS said in a note. This surpasses the 2018 Woolsey fire in California, which caused more than $6 billion in losses, Morningstar said.