Those who assess catastrophe risks for insurance purposes are keeping an eye on the latest California wildfires but at this point do not rate them as insured loss catastrophes.

Scott Stransky, research analyst at AIR Worldwide, said the "vast majority" of California's current fires are burning in the northern part of the state, and he said only a "small percentage of these fires will be loss-causing."

At the moment, Mr. Stransky said, the fires threaten about 10,500 homes and more than 400 commercial properties.

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