HVRRF - U.S. Wildfire Industry Losses Estimated At $5 Billion To $8 Billion By Moody's
Western U.S. wildfires so far this year have damaged or destroyed around 9,657 residential and commercial structures, while burning more than 5 million acres and the toll for the insurance and reinsurance industry could be as much as $8 billion already, according to Moody's.
Moody's Investors Service said that insured losses are already significant for California homeowners insurers and commercial insurers, while insurers with exposure in Oregon, Washington and other western U.S. states are also facing a rising claims bill from wildfires in those states as well.
Based on an estimate from CAL FIRE of