Northern California wildfires break $9 billion in insurance claims

fire fighter northern california wildfires

The fires that torched their way through the state’s wine country in October have broken fire records. The Northern California wildfires from October have already generated an incredible $9 billion in insurance claims. This has easily left the previous wildfire insurance claim records well behind. The October blaze is now the most expensive single fire in the history of the United States. California Insurance Commissioner Dave Jones does not think that total will rise much further for those Northern California wildfires. The $9 billion figure represents the total insurance claims…

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First mobile units with insurance adjusters head to Fort McMurray, Canada

Fort McMurray wildfire insurance adjusters

As the wildfire that has eaten much of the city begins to move in a new direction, insurers are sending in teams. On Sunday, the massive wildfire nicknamed “the beast” started to stabilize after causing catastrophic devastation in the Canadian city of Fort McMurray, and insurance adjusters are now being deployed in mobile response units being flown in from across the country. This will be the initial wave of experts who will start to assess the widespread damage to Fort McMurray. The majority of insurers have natural disaster and crisis…

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Fire insurance woes cause upset among homeowners in Colorado

Colorado homeowners insurance industry wildfires

High Park fires are now causing many policyholders to have to fight for compensation. The homeowners who lost their houses to the fires in High Park attended a Larimer County meeting in order to express their frustrations regarding the way that their wildfire insurance claims are being handled by their insurers. Many homeowners were in tears as they shared their settlement data which has fallen short of expectation. There were around 130 people in attendance, who complained about the depreciated fire insurance settlement offers that they received and which will…

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Wildfire insurance claims in Colorado approach $500 million

Wildfire insurance Waldo colorado Canyon

High Park and Waldo Canyon fire victims have already started making their filings. Wildfire insurance data from the Rocky Mountain Insurance Information Association has indicated that the claims from victims of the High Park and Waldo Canyon wildfires will generate payouts of almost $450 million from insurers. This estimate is preliminary, as the claims process is just getting started. Insurers have begun looking into the tallies of the losses from personal property and home damage from the fires that caused destruction to over 600 houses in El Paso and Larimer…

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