Thomas wildfire to cost insurers between $1 billion and $2.5 billion

Catastrophe risk modeling firm RMS puts insured and reinsured losses stemming from the December Thomas fire in Southern California at somewhere between $1 billion and $2.5 billion, reports the Artemis blog.

The fire, which started on December 4, became the largest in California history and was followed by devastating mudslides in burned areas stripped of vegetation.

RMS estimates include losses from burning or smoke damage to personal and commercial lines and insured losses due to business interruption and additional living expenses. They don’t include automobile and agriculture losses, or damage related to the recent mudslides.

 

The I.I.I. has Facts & Statistics on wildfires here.

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