LA Wildfires’ Insured Losses Risk Exceeding $10 Billion

The fires have not been contained thus far and continue to spread, implying that estimates of potential economic and insured losses are likely to increase,

JPMorgan analyst Jimmy Bhullar said in a research note

These events will continue to have widespread, negative impacts for the state’s broader insurance market,

said Denise Rappmund, senior analyst at Moody's

Benny Johnson (columnist)conservative american commentator

Pacific Palisades in Los Angeles is completely gone, ... This is California - a USD 4.8 trillion economic powerhouse state, in the world’s biggest economy USA.”

Responding to a post by conservative American commentator Benny Johnson, who shared an image of the devastation and wrote ... Chandrasekhar remarked

Jon PorteraccuWeather Chief Meteorologist

This is already one of the worst wildfires in California history,

said Jonathan Porter, AccuWeather’s chief meteorologist

Jon PorteraccuWeather Chief Meteorologist

Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss,

AccuWeather Chief Meteorologist Jonathan Porter said

We expect a majority of the losses to be related to homeowners' coverage and a significantly lesser amount to commercial,

they added