Insurance Company Stocks Fall as Damage Estimates from California Wildfires Rise

1. California wildfires caused $135-$150 billion in damage and economic loss. 2. Insurance companies' shares dropped significantly due to the ongoing fires. 3. Economic loss could reach nearly 4% of California’s annual GDP. 4. AccuWeather warns costs may increase as fires continue to spread. 5. State Farm has advised customers to file claims once safe.