As the 2017 fire season reaches its high point, California and the United States as a whole has paid a dear price for 2 major wildfire disasters. According to a CNBC article in October 2017 the cost could reach 3 Billion in losses. The article says “The rebuilding effort is likely to take years and pose challenges to localities since there are thousands of homes and other structures lost that could deal a blow to property tax revenues. There’s also the added concern that the $2 billion in tourism-related income from region’s winery tours, restaurants, and hotels is at risk.

In an interview with California Insurance Commissioner Dave Jones was reported as saying in on Fortune.com November 2017 article “Wildfires in California have caused insured losses of more than $3.3 billion, based on claims reported by 15 insurers, and the figure will rise, the California Department of Insurance said Tuesday.” He goes on to say “The number includes claims for 10,016 partial residential losses, 4,712 total residential losses, 728 commercial property losses, and 3,200 personal auto losses

These events have destroyed many businesses. Many of which were probably ill-prepared for a disaster. When buildings burn, its a complete loss of everything including paper, computers, and data. Losses can mount and many businesses do not survive these types of events.

With Los Angeles fires during December 2017, we can expect those losses to greatly increase as this second round of mega wildfires are reaching historic levels.

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