Earlier this year, as residents were evacuated due to wildfires fueled by Santa Ana winds in drought-ravaged parts of Southern California, commercial and personal lines carriers mobilized office and field staff to swiftly respond to the catastrophe.
Executive Summary
As insurers report results for the first quarter, including the impacts of January's California wildfires, Journalist Denise Johnson provides of recap of personal lines insurers' efforts to respond to the claims, and gets a detailed "how we're doing it" account of catastrophe mobilization for large commercial claims from the regional head of claims of Allianz, Frank Sapio.According to the California Department of Forestry and Fire Protection (CalFire), an estimated 37,469 acres burned as a result of the Palisades and Eaton Fires that began on Jan. 7.
Later that month, California Insurance Commissioner Ricardo Lara announced an online tracker had been created to tabulate insurance paid out because of the devastating wildfires.
By early March (the latest figures available), insurers had received 37,749 wildfire-related claims, with 27,821 partially settled. Total insurance payments stood at $12.1 billion—a number expected to climb as debris removal and rebuilding efforts continue.
