Insured fire losses in Los Angeles have reached $28 billion.

The KCC company, which specializes in disaster risk modeling, estimates the insurance losses from wildfires in Los Angeles to be around $28 billion, making them the most expensive in U.S. history. This was reported by Reuters.

According to the California Fire Service, since the fires began on January 7, they have spread over an area comparable to the size of Washington. As a result of the disaster, 28 people have lost their lives, and nearly 16,000 buildings have been damaged or destroyed.

American and European insurers are expected to face multi-billion dollar claims related to this catastrophe.

The preliminary damage assessment includes not only the direct consequences of the fires but also smoke damage, loss of time for residents in evacuated areas whose homes remained intact, guaranteed coverage of restoration costs, and increased demand for repair work, as noted in the KCC report.

These losses should be covered by standard insurance policies, the company's analysts add.

In recent years, insurers have faced significant losses due to an increase in claims related to wildfires and other natural disasters.

The fire in Palisades destroyed nearly 97.12 square kilometers in the Santa Monica Mountains, as well as in the cities of Pacific Palisades and East Malibu. The Eaton fire covered more than 56.66 square kilometers of the Angeles National Forest and also affected the cities of Altadena and Sierra Madre.