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Fires in California “will cost” insurance companies up to $ 45 billion

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Fires in California “will cost” insurance companies up to $ 45 billion
Photo: agencies

The American Insurance company “Allstate Insurance” announced that it will pay $ 1.1 billion for damage caused by fires that caught Southern California in January.

This company states that it managed to partially reduce the losses withdrawal from the California market, conveyed CNN.

The amount that this company should pay a small part of total insurance receivables after January Fires in California, because the owners of 16,600 properties should be compensated.

The “CoreLogic” research company, which monitors the costs due to disaster such as fire and hurricanes, states that fire damage could cost between 35 and 45 billion dollars.

Many insurance companies due to increasing dangers of forest fires in many areas of California cancel policies to house owners, which at your disposal remain more expensive and often limited alternatives.

The company “Allstate Insurance” recorded a profit of $ 2.1 billion in the fourth quarter, which is 34 percent more than one year earlier.

(Vijesti.ba)


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