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California fire loss may reach $150M: RMS


SOUTH LAKE TAHOE, Calif.--The Angora wildfire burning near South Lake Tahoe, Calif., has caused between $100 million and $150 million in insured losses, Risk Management Solutions Inc. estimates.

Since June 24, the fire has consumed about 3,100 acres and more than 300 structures, RMS said in a statement released Friday.

Because of firefighter successes, there is reduced probability the fire will break through defense lines and cross into South Lake Tahoe, Newark Calif.-based RMS said. But the catastrophe modeling company added that conditions remain volatile and noted insured losses could reach $1 billion if the fire were to spread to that area.