California regulator puts initial wildfire claims at $1.05bn

Insured losses from the Californian wildfires are currently
estimated at $1.045bn, according to the insurance commissioner of
California.
The regulator said the preliminary data update, gathered from
eight California insurers, reflected losses from commercial and
residential structures, personal and commercial vehicles, and
agricultural equipment.
More than 7,000 structures have been damaged or destroyed, and
the insured loss number is expected to climb as more claims are
filed and processed.
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