Business Services Industry
Losses from wildfires to top $2 billion.(News)(Southern California wildfires)(Brief Article)
Business Insurance, November, 2003 by Hofmann, Mark A.
Byline: Mark A. Hofmann JERSEY CITY, N.J.-Wildfires that ravaged large portions of Southern California in late October and early November caused an estimated $2.04 billion in insured property damage, the Insurance Services Office Inc.'s Property Claim Services unit said Monday. That makes the blazes, which burned from Oct.
25 to Nov. 4, the most costly California wildfires of recent history, surpassing the 1991 Oakland fires, which caused estimated insured losses of $1.7 billion in 991 dollars. The Cedar fire, which ravaged homes and businesses east of San Diego before being contained on Nov. 4, will account for about $1.06 billion in insured property damage, according to PCS. Another fire, known as Old Fort, joined with two other fires in the San...
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