Business News and Information

The various wildfires raging in Southern California have crossed 7 county lines, displaced approximately 1 million people, and destroyed over 1000 homes and businesses.

The fires have also consumed $2 billion and rising. That’s what experts are estimating it will cost to rebuild after the mega-fires have subsided.

President Bush, who plans to visit San Diego County (where 500,000 have been forced to evacuate) on Thursday has declared a federal emergency and has promised funds for fire victims.

An article from CNNmoney.com notes the amount of insured losses from the fires could top $500 million.

The article details the warnings of consumer advocate groups. It seems that while residents grieve for the loss of their homes they might also have to do battle with insurance companies that may deny claims or drop policy holders altogether.

If you’d like to help with recovery efforts read this post from Monica Flores at SistersInBiz.

The economic and emotional impact of these fires is widespread and devastating, I am praying for everyone affected, as well as the health of our great state.