Big Projected Losses from LA Wildfires & TX’s Driver Data Lawsuit Against Allstate

Cost of LA Wildfires Could Reach $150B

J.P. Morgan said last week that insured losses from the wind-driven wildfires in Los Angeles could reach $10 billion, according to reporting by Reuters. AccuWeather initially estimated the total damage and economic loss from the fires would range from $52 billion to $57 billion, but days later it revised its estimate to between $135 billion and $150 billion, which would make the fire disaster one of the costliest in modern U.S. history. (INSURANCE JOURNAL, ACCUWEATHER)

Texas Sues Allstate Over Collection of Driver Data

Texas filed a lawsuit alleging Allstate has been secretly collecting driver data through drivers’ smartphone apps. Texas AG Ken Paxton (R) said Allstate and its analytics subsidiary Arity paid mobile app developers millions of dollars to install their tracking software. Last year the state sued General Motors for allegedly collecting drivers’ data and selling it to insurers without the drivers’ consent. (NEW YORK TIMES)

—Compiled by SNCJ Managing Editor KOREY CLARK

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