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The total insured losses from three wildfires that have swept across California are likely to be between $600 and $800 million, according to AIR Worldwide Corp., a Boston-based modeling techniques firm owned by ISO.
|AIR's estimates for the Freeway Complex, Sayre and Tea fires, which broke out in southern California on Nov. 14, include damage to or destruction of primary structures and their contents, as well as estimated business interruption costs for commercial properties and additional living expenses for residential policies.
|The Fires: Nov. 14: Tea–destroyed 1,000 buildings and burned through 65 square miles of land Nov. 15: Sayre and Nov. 16: Freeway Complex–both burned through nearly 42,000 acres of land.
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