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Estimated Economic Impact of California Wildfires Could Reach $57 Billion

share-iconThursday, January 09 comment-icon3 weeks ago 7 views
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Estimated Economic Impact of California Wildfires Could Reach $57 Billion

Credited from: THEHILL

  • Total economic losses from the California wildfires may reach between $52 billion and $57 billion, based on a recent report by AccuWeather.
  • This estimate covers both direct and indirect impacts, including insured and uninsured losses related to properties and infrastructure.
  • The report compares losses to past wildfires, noting that the Maui 2023 wildfires resulted in damages of $13 to $16 billion.
  • Current fires span from Santa Monica to Malibu, a region known for its high real estate values, with many residents lacking property insurance.
  • The economic impact figure is labeled as preliminary and may increase significantly if additional structures are damaged.

For more details, visit the original article here.

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