Tag: California wildfires

German Reinsurance Giant Munich Re

Frankfurt: German reinsurance giant Munich Re said Wednesday that last month’s huge wildfires in Los Angeles had been the costliest “in the history of the insurance industry”. Munich Re, which acts as an insurer for insurers, said it expected some 1.2 billion euros ($1.3 billion) in…

Rent Shoots Up As Wildfires Destroys Los Angeles Homes

Santa Monica: Five days after an inferno razed Pacific Palisades, Maya Lieberman is desperate to find somewhere to live. But unscrupulous landlords who are jacking up prices are making it hard. “The price gouging is going haywire, it’s obscene,” the 50-year-old stylist told AFP. “I can’t…

How Fierce Winds Sparked Devastation Over 3,000 Acres

LA Palisades Wildfire: Firefighters on Wednesday battled a ferocious wildfire in Los Angeles suburbs, home to many Hollywood celebrities, which devoured buildings and sparked panicked evacuations as hurricane-force winds fuelled rapid blaze growth. Frightened residents abandoned their cars on one of the only roads in and…