X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The wildfire that has consumed 260 homes and outbuildings in the Lake Tahoe, Calif., region will create insurance losses that meet an industry definition of a catastrophe, a modeling firm said.

Based on initial reports of structure and home loss, it is anticipated that insured losses could exceed $25 million, said Boston-based AIR Worldwide Corp. At that level the fire meets the definition of catastrophe used by Property Claims Services, a subsidiary of the Jersey City, N.J.-based the Insurance Services Office Inc.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.