According to a new report from California Insurance Commissioner Ricardo Lara, insurers in the state have paid out more than $12 billion for damages incurred by the Los Angeles-area wildfires that destroyed thousands of homes in January.
Lara announced the new payout figures on March 12, adding that the latest numbers represent a near-doubling from the $6.9 billion in claims paid out in February. Claims that remain to be paid off are largely related to the rebuilding and debris removal process that many Californians still find themselves in, according to Lara’s office.
The latest findings on the fires from the California Department of Insurance (CDI) include the following:
- 37,749 insurance claims have been filed for home, business, living expenses and other disaster-related needs
- 27,821 claims have been partially paid under laws requiring advance payments to speed recovery
- $12.1 billion has been paid out to date to insurance policyholders
Early estimates put insured losses at $8 billion for the Eaton and Palisades fire to $40 billion for all five fires that, at one point, burned in the region around the same time.
Insurance providers in California have reported significant losses related to wildfire claims, with Lloyd’s saying it will lose $2.3 billion to the fires. 
The Travelers Companies likewise reported in mid-February that it stood to lose $1.7 billion, with Allstate and State Farm reporting losses of more than $1 billion each.