California mudslide insurance losses exceed $421m – regulator

A series of deadly mudslides along Southern California’s coast in January caused more than $421 million insured losses, the state’s insurance commissioner said yesterday.
Insurers received 1,415 claims for homes that were partially damaged and 107 for homes that were totally destroyed, said California Insurance Commissioner Dave Jones during a media presentation.
The fast-moving mudslides, which struck in Santa Barbara County and killed at least 20 people, also triggered 240 claims for commercial property losses and 315 for personal and commercial auto insurance losses, Jones said.
The total sum of insured losses is likely to rise as insurers adjust claims, Jones said. (Reuters)