A catastrophe risk modeling firm, with the highest estimate yet, said insured losses from the three recent fires in Southern California could reach $800 million.

And modeling by First American in Austin, Texas put the loss figure at $787 million.

Boston-based AIR Worldwide said total insured losses from the Freeway Complex, Sayre and Tea Fires in Southern California would likely range between $600 and $800 million.

An earlier estimate from Oakland, Calif.-based catastrophe modeler EQECAT put its initial loss estimate at $300-$500 million.

First American's in its breakdown of loss estimates put the Tea Fire at a total residential loss of approximately $280 million or more with 200 homes impacted. Average price per house is $1.4 million with the median estimated at $1.3 million, the company said.

It said Freeway Fire had an actual residential loss is estimated as $224 million with 314 homes impacted.

The Sayre Fire, said First American, has an estimated residential loss of more than $283 million with approximately 500 homes, mostly mobile homes, impacted.

AIR's estimate includes damage or destruction of primary structures, their contents, and estimated additional living expenses for residential policies or business interruption for commercial properties, AIR said. The company added it will send a post-disaster survey team to the area.

"The actual fire perimeters continue to be refined as more information comes in," explained Tomas Girnius, senior research scientist at AIR Worldwide in a statement.

Claims are expected to "significantly" exceed the number of destroyed structures, but the size of those claims would be small, he said.

Dying winds and mild temperatures helped firefighters finally control all of the wildfires that began raging across southern California last weekend.

According to the California Department of Forestry and Fire Protection Web site, all three fires (Freeway Complex in Orange County, Sayre Fire in Los Angeles County, and Tea Fire in Santa Barbara County) are 100 percent contained. A total of 43,507 acres were burned and 1,214 structures were either destroyed or damaged.

Investigators said a bonfire by a group of 10 young men began the Tea fire. They thought the fire had been put out, but it reignited later causing the blaze, investigators said. The other two fires remain under investigation.

One of the worst losses was at a mobile home park in Los Angeles where close to 500 homes were lost. According to the Insurance Information Network 25 percent of mobile home owners in the state do not carry insurance, along with 200,000 homeowners.

Yesterday, state Insurance Commissioner Steve Poizner said the department sent consumer information experts to help Tea Fire survivors with their recovery efforts. He also said that 332 emergency insurance adjusters were registered with the department.

Some have raised concerns that the blazes may produce the kind of complaints that have followed other California fire catastrophes about policies being sold that underinsured homes or policyholder difficulties receiving payment for claims.

While officials say it is too early to know how extensive those types of complaints may be from this event, the department last month said it recovered more than $12.7 million from insurers for policyholders who were having problems collecting on their claims from last year's fires.

The department said it received 549 consumer complaints and 106 involved underinsurance allegations. The department said more than $3.8 million was recovered for consumers related to those types of complaints.

In 2007, nearly 39,000 claims were filed and nearly 80 percent, or 30,000 claims, were closed after insurers settled with consumers.

The fires caused $2.3 billion in losses that year, the department said.

The State Compensation Insurance Fund announced earlier this week that it would extend credit to policyholders who suffered financial loss or business disruption caused by the fires. State Fund said it would review accounts and grant 30-day credit extensions, provide three-month payment plans, or if necessary, withdraw cancellations and reinstate the policies.

Special Reports /

Calif. Fires' Insured Loss Could Hit $800 M, Says Modeler

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