WEB DESK
In the USA, number of people killed in the California wildfires has risen to 24 while the losses due to the wildfires estimated to be in the billions of dollars. Analysts at AccuWeather estimate wildfire damages at 135-150 billion dollars, covering real estate, agriculture, infrastructure, and healthcare expenses for displaced populations. According to J.P. Morgan analysis, this is nearly 4 percent of California’s annual GDP. Media reports suggest it is sparking an existential insurance crisis in California. J.P. Morgan analysts predict insured losses of 20 billion dollars, with uninsured losses potentially surpassing 100 billion dollars. There are three wildfires still burning in the Los Angeles area. The largest, the Palisades Fire, is just 13 percent contained.
Meanwhile, winds are expected to intensify in the coming days, potentially further complicating rescue efforts. According to the local officials, gusty winds and persistently dry weather are increasing extreme fire threats in the region. At least 29 people have been arrested, many for looting, since the wildfires broke out last week. A night-time curfew between 6 pm and 6 am is in place across the disaster zones around Pacific Palisades and Altadena, areas worst hit by the fires.