2020 California wildfires may lead to further spikes in reinsurance rates

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<dateIssued>2020</dateIssued>
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<abstract displayLabel="Summary">After the devastating wildfire losses in California in 2017 and 2018, insurers enjoyed a brief respite in 2019which has now ended, proving yet again that the new normal really is the new normal. The current wildfire season in California has been setting new records in terms of the number of fires and the acreage burnt. Of the 20 largest California wildfires, the LNU Lightning Complex event and the SCU Lightning Complex event (both of which are ongoing) occupy the second and third spots in terms of acres burned.</abstract>
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