INSURANCE
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From Times Staff and Wire Reports
Most Oakland Fire Claims Settled: The state Department of Insurance reported that 92% of claims from the Oct. 20, 1991, Oakland firestorm have been settled and that insurers so far have paid $274 million beyond policyholders’ coverage limits. The department has prodded the industry to respond more quickly and generously to the fire, which destroyed more than 2,500 homes and caused insured losses of $1.7 billion. As of last August, only 68% of the claims had been resolved and $151 million paid beyond coverage.
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