Arizona wildfire produces US$120 million insured loss

A wildfire that ravaged a large area of parkland at the Rodeo-Chediski Complex in Arizona over late June/early July this year is expected to cost insurers about US$120 million, according to loss estimates compiled by the Insurance Services Office (ISO). The losses include homeowners, auto and business claims.The fire destroyed approximately 300 dwellings, resulting in a total of more than 6,000 claims. Insured property loss is expected to amount to about US$70 million, the ISO says.