Insight and Intelligence on the London & International Insurance Markets 22 Jan 2018
PCS loss figure for October fires surpasses $10bn
- 12 January 2018
PCS has released an updated loss number of $10.4bn for the wildfires that hit California in October - up 42 percent from its initial figure of $7.3bn, The Insurance Insider can reveal.
Market sources have previously pointed to expected insured losses of around $10bn.
The $10.4bn figure, which does not comprise loss adjustment expenses and some portions of losses picked up in the marine market, suggests that the overall insured loss has deteriorated meaningfully.
The Tubbs fire was the largest...
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