Moody's estimates California wildfires insured loss at $4.6bn

Ratings agency Moody's has estimated that the total insured
loss from the Californian wildfires has risen to $4.6bn, based on
the number of structures now believed to have been destroyed.
According to data from California Department of Forestry and
Fire Protection (CalFire) the wildfires had as of Saturday caused
40 deaths, destroyed 5,700 homes and commercial structures and
burnt more than 221,000 acres.
Assuming CalFire's 5,700 figure and applying an average
value of $802,000 per structure, Mo