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Estimates suggest that the Los Angeles wildfires could be one of the costliest disasters in US history, with losses already estimated to exceed $135 billion.
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A report issued by the American weather forecasting services company AccuWeather showed that the total losses could be between $135 and $150 billion, which shows the significant impact on a region that has some of the most expensive real estate in the United States.
Analyst companies such as Morningstar and JP Morgan expected insured losses of more than $8 billion as a result of property damage.
The Palisades Fire damaged more than 5,300 structures, and the Eaton Fire destroyed more than 5,000 more.
Despite the authorities’ efforts to contain the fires, the full picture of losses is still unclear, as AccuWeather’s chief meteorologist, Jonathan Porter, described this disaster as one of the costliest forest fire disasters of the modern era .
These fires are a major competitor in events such as the 2018 Camp Fire in California, which recorded insured costs of approximately $12.5 billion.