Reported 1 day ago
AccuWeather estimates the economic damage from the ongoing Los Angeles wildfires has surpassed $50 billion, marking one of the worst fire incidents in California's history. At least two people have died, and hundreds of buildings have been destroyed. If the fires reach more populated areas, the economic loss could increase significantly, with past estimates from 2023 wildfires in Maui being much lower at $13 to $16 billion. J.P. Morgan anticipates insured losses could be around $10 billion, primarily covering homeowners' policies.
Source: YAHOO