A new Moody’s report shows that insurance companies will endure more wildfire losses this year. The California insurance industry isn’t getting a year off from wildfire losses after facing a costly year in 2017. A new Moody’s Investors Service Inc. report showed that despite current losses, there will likely still be another major wildfire loss event this year. The Carr wildfire in California has caused about an estimated $1.5 billion in insured losses. After the California insurance industry copes with the $1.5 billion in losses likely already caused by the…
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