Weather & Science
LA Wildfire Losses Seen as High as $164 Billion, UCLA Says
- Insured losses about $75 billion, some owners undercovered
- Newsom travels to DC to lobby Trump administration for aid
The UCLA economists’ highest estimate would rank the LA-area wildfire toll second only to Hurricane Katrina, which swept through New Orleans in 2005.
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Economic losses from the fires that tore through Los Angeles County in January range from $95 billion to $164 billion, according to a new report, potentially making the blazes the second-costliest natural disaster in US history.
The Eaton and Palisades fires, which both erupted Jan. 7, killed at least 29 people, charred more than 37,000 acres (15,000 hectares) and destroyed 16,000 structures, including 11,000 single-family homes. Insured losses are estimated at $75 billion, according to the report released Tuesday by University of California at Los Angeles economists Zhiyun Li and William Yu.