L.A. Fires Could Cost Insurers $30 Billion, According to New Forecast -- WSJ

Dow Jones

Jan 16

By Jean Eaglesham

Estimates of the losses to insurers from the Los Angeles wildfires increased as the blazes spread.

Morningstar DBRS analysts now estimate a total insured loss of up to $30 billion, by far the highest for any wildfire in modern times. A few days ago, other industry watchers had pegged the cost to insurers at closer to $20 billion.

Morningstar forecast the disaster will:

-- Worsen the crisis in California's property insurance market

-- Have a "significant but manageable" impact on leading home insurers in the state, including Allstate, Travelers, Mercury General and Chubb

-- Increase costs for reinsurance, or the coverage insurers buy for major disasters. In turn that will put further upward pressure on California home-insurance premiums.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

January 15, 2025 11:00 ET (16:00 GMT)

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In turn that will put further upward pressure on California home-insurance premiums. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 15, 2025 11:00 ET (16:00 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>L.A. 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Fires Could Cost Insurers $30 Billion, According to New Forecast -- WSJ\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-16 00:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n       By Jean Eaglesham \n</p>\n<p>\n     Estimates of the losses to insurers from the Los Angeles wildfires increased as the blazes spread. \n</p>\n<p>\n     Morningstar DBRS analysts now estimate a total insured loss of up to $30 billion, by far the highest for any wildfire in modern times. A few days ago, other industry watchers had pegged the cost to insurers at closer to $20 billion. \n</p>\n<p>\n     Morningstar forecast the disaster will: \n</p>\n<p>\n     -- Worsen the crisis in California's property insurance market \n</p>\n<p>\n     -- Have a \"significant but manageable\" impact on leading home insurers in the state, including Allstate, Travelers, Mercury General and Chubb \n</p>\n<p>\n     -- Increase costs for reinsurance, or the coverage insurers buy for major disasters. In turn that will put further upward pressure on California home-insurance premiums. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 15, 2025 11:00 ET (16:00 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4533","symbol_name":"AQR资本管理(全球第二大对冲基金)","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2503629368","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503629368","pubTimestamp":1736956800,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Estimates of the losses to insurers from the Los Angeles wildfires increased as the blazes spread.Morningstar DBRS analysts now estimate a total insured loss of up to $30 billion, by far the highest for any wildfire in modern times. 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A few days ago, other industry watchers had pegged the cost to insurers at closer to $20 billion. \n\n\n     Morningstar forecast the disaster will: \n\n\n     -- Worsen the crisis in California's property insurance market \n\n\n     -- Have a \"significant but manageable\" impact on leading home insurers in the state, including Allstate, Travelers, Mercury General and Chubb \n\n\n     -- Increase costs for reinsurance, or the coverage insurers buy for major disasters. In turn that will put further upward pressure on California home-insurance premiums. \n\n\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n\n\n  (END) Dow Jones Newswires\n\n\n  January 15, 2025 11:00 ET (16:00 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}