California
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn. -
Plenum said impact is marginal because wildfire contributes only marginally to the risk of bonds.
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Moody’s also expects losses in the billions of dollars.
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Six wildfires are now burning in SoCal, with the Palisades fire being the largest.
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Six fires now cover more than 27,000 acres across Southern California.
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The fast-moving blazes have prompted evacuations across the city.
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More than 4,000 acres are burning as thousands evacuate.
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The regulations are part of a state effort to expand wildfire coverage.
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The effort will draw from California’s research and higher education communities.
