FILE PHOTO: A firefighter uses a homeowners garden hose to help battle the Silverado Fire, a wind driven wildfire near Irvine, California, U.S., October 26, 2020. REUTERS/Mike Blake
November 11, 2020
(Reuters) – Insurance and reinsurance industry losses from wildfires across U.S. states, including California, Oregon and Colorado, were estimated to be more than $8 billion, according to a monthly report on global catastrophes by Aon Plc.
Economic losses from the fires could top $13 billion, the insurance broker said http://thoughtleadership.aon.com/documents/20201111_analytics-if-october-global-recap.pdf on Wednesday.
Wildfires have scorched through millions of acres in California this year, the worst fire season in state history, while crews have battled a string of wildfires in drought-stricken Colorado.
American International Group Inc, one of the largest U.S. insurers, this month reported $790 million in quarterly catastrophe losses, before tax, hurt in part by wildfires in the U.S. West Coast.
(Reporting Niket Nishant by in Bengaluru; Editing by Amy Caren Daniel)