A massive wildfire in the Los Angeles area has caused damage and economic losses estimated at between $52 billion and $57 billion. About this informs Reuters with reference to the calculations of the meteorological company AccuWeather.
It is noted that this is a preliminary minimum estimate, which may increase if the fire spreads to more densely populated areas.
“If more buildings burn in the coming days, it could become the most destructive wildfire in modern California history in terms of buildings burned and economic damage.”, AccuWeather Chief Meteorologist Jonathan Porter said.
According to “JP Morgan” estimates, insured losses may reach about 10 billion dollars. The majority of these losses are related to residential insurance, while commercial insurance accounts for a much smaller share.
The consulting company “CoreLogic” estimated that there are more than 456,000 residential buildings in the areas with moderate and high risk in the metropolitan areas of Los Angeles and Riverside. The total cost of their reconstruction is estimated at 300 billion dollars. This figure takes into account all objects that can potentially be affected by fire.
