Insurers have paid out more than $4 billion in wildfire claims so far. (Credit: Ryland West/ALM)

Travelers estimates the LA wildfires will cost it more than $1 billion.

In a statement released this week, the Travelers Companies said preliminary numbers showed a pre-tax hit of $1.7 billion, or $1.3 billion after tax. That estimate includes losses from Travelers’ commercial and personal segments, assessments from the California FAIR plan and recoveries from reinsurance.

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