LA wildfire insured losses total billions of dollars, ratings agencies say By Reuters

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The wildfires melting in the Pacific Palisades, Eaton (NYSE: ETN), Hurst and other Los Angeles areas may lead to insured losses of greater than $8 billion, analysts at Morningstar DBRS stated in a note. This goes beyond the 2018 Woolsey fire in The golden state, which triggered greater than $6 billion in losses, Morningstar claimed.

Morningstar DBRS likewise said a larger than usual part of the losses can be uninsured or covered under the California FAIR strategy, made to assist home owners where standard insurance coverage is not available.