Insurance claims for California’s 2018 wildfires top $11.4B

Insurance claims for California’s 2018 wildfires top $11.4B

Insurance claims in California from last year's deadly wildfires have topped $11.4 billion, state officials said Monday, according to the Associated Press.

Most of the claims stem from the Camp Fire in Northern California, which killed more than 80 people and destroyed thousands of structures. The Woolsey Fire in Southern California also killed three people and destroyed thousands of buildings.

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California Insurance Commissioner Ricardo Lara told the told the AP that, while people in some areas affected by fires have had difficulty getting insurance, it's not impossible.

“We want to make sure that we’re monitoring the situation, and right now we don’t feel this is an area we should be alarmed about,” he said.

He added, however, that the fires have put the state in "uncharted territory."

Nicole Mahrt-Ganley, a spokeswoman for the American Property Casualty Insurance Association, told the AP that insurance plans are likely to remain available in California. 

“California still has a competitive market, there are other carriers moving into place to write new business,” she said.