The Mountain Fire that broke out on November in Ventura County, Southern California, is projected to result in significant insured losses, according to global insurance and reinsurance broker Aon.
Extreme wind gusts exceeding 75 mph and very dry conditions, brought on by a Santa Ana wind event, contributed to the wildfire’s rapid spread. Santa Ana winds are known for carrying hot, dry air from the nearby mountains, creating ideal conditions for wildfires.
Cal Fire reports that the blaze has scorched roughly 20,630 acres and destroyed 243 buildings, while 127 additional structures suffered damage. The fire has also caused widespread road closures and power outages.
The wildfire is 91% contained. Although authorities do not expect significant additional spread, nearly 40,000 residents and 3,800 structures remain at risk.
Aon notes that economic losses could surpass $100 mn, factoring in the impact on buildings and related disruptions like road and business closures.
Though major insurers in California have not yet released preliminary loss estimates, the anticipated insured losses are considerable.
The crisis in California’s insurance market persists, driven by a higher frequency and severity of natural events, along with the presence of high-value properties in risk-prone areas.
On November 6, 2024, a wildfire ignited in Ventura County, Southern California, rapidly escalating into a significant event. The fire, known as the Mountain Fire, originated near the 7900 block of Balcom Canyon Road and Bradley Road around 9 a.m.
Fueled by strong Santa Ana winds with gusts exceeding 75 mph, the fire expanded swiftly, crossing State Route 118 and threatening residential areas, including Camarillo Heights. By November 7, it had consumed approximately 14,500 acres with no containment.
As of November 15, the fire has burned 19,904 acres and is 91% contained. The blaze destroyed 243 structures and damaged 127 others, with 3,888 structures still at risk.
Mandatory evacuation orders affected over 10,000 residents, with 3,500 structures under threat. Multiple injuries were reported, primarily due to smoke inhalation.
The fire impacted over 500 acres of agricultural land, including avocado, citrus, and berry crops, resulting in estimated losses of $4 mn.
Firefighting efforts involved over 2,000 personnel, including ground crews and aerial support. Strong winds initially hindered fixed-wing aircraft operations, but helicopters continued water drops. By November 15, containment reached 91%, with ongoing efforts to fully control the fire.
Governor Gavin Newsom declared a state of emergency in Ventura County and secured federal assistance to support firefighting and recovery efforts.
The Mountain Fire is largely contained, with minimal fire activity reported. Authorities continue to monitor the situation, focusing on preventing flare-ups and assisting affected communities.
