Gallagher Re: LA wildfires losses “notably exceed $10bn”, new SoCal risk assessment level needed

By Michael Loney

Published: Fri 10 Jan 2025

Insured losses from the Palisades and Eaton wildfires “could approach” $20bn with possibly more than 50 percent of properties within the blazes’ perimeters affected, Gallagher Re has said, noting that the outbreak will “require a new level of risk assessment” in southern California.