LA wildfires caused $40bn in insured losses, making it the costliest ever disaster of its kind.
The Los Angeles wildfires in January 2025 resulted in $40 billion in insured losses, marking the most expensive wildfire globally. This event significantly contributed to the total $107 billion in insured losses from natural disasters that year, despite a decrease in overall global losses to $220 billion. The reduction was largely due to a less severe hurricane season, with no storms making landfall on the US coast for the first time in a decade. Severe storms, however, remained a major global loss driver, with US events accounting for 83% of insured losses.
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