Just months before the Southern California wildfires, many insurance companies, including Allstate, backed out of the California Market. While many individuals are upset with insurance companies for backing out,

Allstate said the wildfires blazed through Southern California last month will bring the insurance company a sizable loss – $1.1 billion.

Allstate insurance said it expects a $1.1 billion loss from claims caused by the wildfires that swept through Southern California in January

The economic toll from the California wildfires is just starting to become clear. Allstate is the latest insurer out with numbers. The insurance company says it will pay out $1.1 billion in insured claims.