Insurance Claims for the California Wildfires exceed $3.3 billion


Claims that have been made to insurance companies after the deadly October wildfire in California have now exceeded $3.3 billion. This is according to Dave Jones, who is a California Insurance Commissioner. The amount shows the total claims for businesses and home that have been insured by 15 companies. The initial estimate was $1 billion, but it seems to have tripled. Jones believes that the figure is likely to rise as more people prepare to file claims. The recent disaster had significant damage compared to the 1991 Oakland Hills fire that destroyed property worth $2.7 billion.