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Wildfires in California: Will insurance companies cover the cost?

  • Wildfires in Southern California could lead to insured losses exceeding $30 billion, as stated by Wells Fargo Securities.
  • At least 24 people have died, and 12,000 structures have been damaged or destroyed due to the wildfires.
  • The wildfires may become the most damaging in California's history, surpassing the 2018 Camp Fire's $10 billion in losses.
  • Wells Fargo analysts believe that the losses are manageable for insurers, estimating a 2% hit to equity at $40 billion in total losses.
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Bias Distribution

  • 43% of the sources lean Left, 43% of the sources lean Right
43% Right
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Sources are mostly out of (0)