California wildfire losses pegged at $1 billion

Jan. 25--Northern California's twin wildfires last fall caused an estimated $1 billion in insurance losses, state regulators said Monday.

The estimate by the state Department of Insurance makes clear that the Butte and Valley fires last September were among the costliest in California history.

The department said the Valley fire, which destroyed 1,958 homes and other buildings in Lake, Napa and Sonoma counties, caused $700 million in covered losses. The Butte fire, which claimed 818 buildings in Amador and Calaveras counties, caused $300 million in insurance losses.

The estimates are in line with an earlier calculation by insurer Aon Benfield that the insured fire losses totalled $925 million in covered losses. Aon said total losses, including those not covered by insurance, came to $1.95 billion.

Insurance Commissioner Dave Jones said the state's estimate includes losses for homes, commercial buildings, cars and other personal property. The $1 billion figure doesn't cover damages to roads, utilities and other public infrastructure.

The Oakland hills fire of 1991 remains the most expensive wildfire in the state's history, with $2.67 billion in covered losses. That figure is adjusted for inflation.

Dale Kasler: 916-321-1066, @dakasler

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