Most of us have heard gut-wrenching stories about tragic losses of life and seen horrific images of destroyed homes caused by the recent wildfires in Southern California. The fires claimed an estimated 29 lives, destroyed over 16,000 residential and commercial properties, and caused roughly $40 billion in insured losses.
Sadly, the catastrophe echoes the devastation suffered by the residents of Maui during August 2023. There, wildfires led to over 100 fatalities, marking the deadliest natural disaster in Hawaii’s history. The fires also destroyed more than 2,000 buildings and resulted in over $4 billion in insured losses.
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