Report: Calif. wildfires in 2015 have caused close to $2B in economic losses


By Calvin Trice:

Economic losses from the 2015 wildfire season in California have approached $2 billion, with insurance claims topping $1 billion, according to the latest Global Catastrophe Recap report from Aon Benfield’s Impact Forecasting.

The Valley Fire northwest of San Francisco was the third-most damaging in state history, causing four deaths and more than $1.5 billion in forecast economic losses, according to the report. Preliminary insured losses are estimated at more than $925 million.

The Butte Fire southeast of Sacramento was the seventh-most damaging wildfire in California’s history, taking two lives and resulting in economic damages estimated at $450 million and insurance losses expected to exceed $225 million.