Service provider
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The industry loss number has increased threefold from an initial $5bn pick. -
AM Best said it expects insured losses from the California wildfires to be “significant”.
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The loss figure has increased 200% from the initial number provided in October.
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Funding has reached $3.2bn over the first three quarters, 7% less than in 2023.
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The loss tally is considerably lower than estimates issued by model vendors.
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