Insured losses from the most destructive wildfire month in California's history climbed $614 million in the first three months of the year, pushing total claims over $12 billion as of April, according to new data released by the California Department of Insurance (“DOI”).
The DOI explained that the increase in claims came as homeowners and businesses continue to assess damages from the Camp Fire in Paradise and Butte County and the Woolsey and Hill Fires in Los Angeles and Ventura Counties.
“While last year's tragic wildfires turned thousands of people's lives upside down, insurance is helping to rebuild and recover,” the DOI's commissioner, Ricardo Lara, said in a statement. “With these record-breaking fires still fresh in our memory, having the right insurance coverage for your home or business should be part of your preparation plan too.”
The DOI releases quarterly reports of insured losses and number of claims following major fire events. The latest data showed an increase in losses from January, when losses jumped 26 percent over the DOI's initial report after the November 2018 fires. The number of claims filed increased by four percent from January, when claims jumped 16 percent over the DOI's initial report after the November 2018 fires.
Together with the July 2018 fires in Northern California last year's overall insured losses topped $13 billion.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].