LA blaze damage likely to be largest wildfire insured loss in US history

The Los Angeles wildfires, which have reduced entire neighbourhoods to smoldering ruins and left an apocalyptic landscape, could become the costliest wildfires in US history in terms of insured losses if analysts’ estimates of up to $20 billion materialise. AccuWeather forecasts total economic losses from the disaster to range between $135 billion and $150 billion, signalling a challenging recovery and likely surging homeowners’ insurance costs.

This is Reuters copy