More than 3200 Gatlinburg wildfire insurance claims settled
Insurers have now paid out nearly $800 million to people affected by the November 2016 Gatlinburg Wildfires.
The Tennessee Department of Commerce and Insurance said Thursday they have settled 3,272 claims as of the end of August. That's out of a total of 4,427 claims.
The fires covered 17,136 acres and destroyed, damaged or affected roughly 2,460 structure across Sevier County and Gatlinburg. The fires resulted in the deaths of 14 people.
The September set of reporting numbers states there have been 2,866 claims that were closed with a payment and only 406 without payment.
Insurance carriers have paid 87.8 percent of the incurred losses. According to the Dept. of Commerce and Insurance, incurred losses on the Gatlinburg Wildfire are decreasing because the carriers are paying off and claims are closing. As a claim closes and actual numbers are reported, the incurred claims decrease because the reserves for that claim have closed.
The next and last scheduled reporting date is set for Nov. 3, 2017.