Swollen Cali wildfire risk hits insurance, ILS sectors
Camp Fire is the most destructive wildfire in California’s history and the latest sign that insurers in the state are facing a recurring threat from blazes. Within the catastrophe bond market, the recent events have focused minds on insurance losses as usual, but also on the utility companies that have issued securities to cover their liability for losses.
Camp Fire, named for the road where it started, was at one point spreading at a rate of one American football field per second. Fourteen other wildfires were also burning as of Monday, including the Woolsey and Hill fires.Camp Fire started in the Sierra Nevada mountain range and ...
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