About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.

State Farm will reverse its cancellation of home and commercial protection policies in 22 Los Angeles counties amid the catastrophe caused by the wildfires.

Following its announcement that it would pause non-renewals for policyholders to ensure coverage for Los Angeles County residents impacted by wildfires, State Farm on Thursday, Jan. 16, reported receiving 7,850 home and auto claims with numbers expected to rise as damages are assessed.

State Farm said that it has paid out close to $500 million in claims following the wildfires that have ravaged the Los Angeles region. As of Jan. 27, the company has processed a total of 10,100 claims for home and auto damage resulting from the fires.

Sources told this publication that the mutual is facing a loss totalling around $7.91bn from the fires, and it is understood that State Farm benefits from around $2.5bn-$4bn of reinsurance cover specifically for Californian risks above an attachment point of $1.5bn.

Insurance company State Farm has canceled plans to air a spot during Super Bowl 59, citing the ongoing fires in Los Angeles as the company’s primary focus.

Wildfires have destroyed around 90 square miles of area around Pacific Palisades, Pasadena and other communities in the Los Angeles and San Diego areas. Over 16,000 buildings have been destroyed, with hundreds of thousands of people forced to evacuate or placed under evacuation orders.

What made the wildfires devastating was their path through the Palisades, where home values hover around $3.4 million and aging structures were tightly packed in a recognized high-risk fire zone.

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Jan. 22, 10:30 a.m. PST Cal Fire data marked the Palisades Fire at 68% containment and the Eaton Fire at 91% containment, listing no other active fires in Los Angeles as a red flag warning is in effect for much the region until Friday evening.

The firms invested half a trillion in fossil fuels, stoking the crisis that led them to dump thousands of homeowners.