According to recent reports, insurers have received more than 12,700 claims relating to the California wildfires. Losses from the fires that ravaged Southern California in October are now estimated to approach close to $3.45 billion.
The California Department of Insurance is monitoring the situation and said it will be several months before the full impact of the fires will be known, but it is expected to be the worst fire loss in 100 years.
The Insurance Services Office has predicted the two most devastating fires in San Diego and San Bernardino counties could cost insurers an estimated $2.04 billion alone.
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