California wildfire losses pegged at $1 billion
By Dale Kasler, Sacramento Bee
Northern California’s twin wildfires last fall caused an estimated $1 billion in insurance losses, state regulators said Monday.
The estimate by the state Department of Insurance makes clear that the Butte and Valley fires last September were among the costliest in California history.
The department said the Valley fire, which destroyed 1,958 homes and other buildings in Lake, Napa and Sonoma counties, caused $700 million in covered losses. The Butte fire, which claimed 818 buildings in Amador and Calaveras counties, caused $300 million in insurance losses.