Wildfire
-
The Fidelis CEO said stochastic modelling was “pretty much meaningless” and failed to consider the impact of climate change. -
The fire has burned through more than 215,400 acres and spread across the counties of El Dorado and Amador.
-
Casinos and ski resorts have shut down, and hotels are housing firefighters in usually buzzing holiday destinations near South Lake Tahoe, California.
-
The Caldor Fire, which is 18% contained, has been active for 17 days and in that time destroyed 675 structures and damaged 40.
-
It has just one class of notes which will trigger on an indemnity, per occurrence basis against any wildfire in the state of California.
-
It recognised the debate surrounding the “plausibility” of such scenarios.
-
The National Federation of Agricultural Workers' Unions has estimated that 73 wineries and five cooperatives have been affected.
-
The second-largest fire in California’s history has so far affected mostly woodland areas.
-
So far, damage costs caused by the California fire are thought to be below $1bn.
-
Winds and high temperatures point to potential further growth of the blaze.
-
The fire is the second largest in California’s history behind the August Complex Fire last year.
-
Pacific Gas & Electric Company has been ordered to explain its potential role in starting the blaze.
