AP NewsBreak: $1 billion insured losses in California fires

California’s insurance department estimates that two deadly wildfires that burned up vast parts of the state last year caused $1 billion in insured losses.

The preliminary figure announced Monday includes $700 million from a fire centered largely in Northern California’s Lake County that killed four and destroyed nearly 2,000 structures. This is the third most destructive wildfire in state history, based on the number of structures lost.

Another fire in Amador and Calaveras counties caused an estimated $300 million in insured losses. The fire killed two people and destroyed more than 800 buildings, making it the seventh-most destructive wildfire in California history.

This is the first damages estimate from the California Department of Insurance for the two fires, compiled from insurance claims filed through December. It does not include uninsured losses or damage to public property.

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