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LA wildfire damages set to cost record $135bn

 The Los Angeles wildfires are on track to be among the costliest in US
history, with losses already expected to exceed $135bn (£109.7bn). In a
preliminary estimate, private forecaster Accuweather said it expected
losses of between $135bn-$150bn as the blazes rip through an area that is
home to some of the most expensive property in the US.

The insurance industry is also bracing for a major hit, with analysts from firms such as
Morningstar and JP Morgan forecasting insured losses of more than $8bn.
Fire authorities say more than 5,300 structures have been destroyed by the
Palisades blaze, while more than 5,000 structures have been destroyed by
the Eaton Fire.

 BBC 9th Jan 2025, https://www.bbc.co.uk/news/articles/c07g73p4805o

January 11, 2025 - Posted by Christina Macpherson | climate change, USA