you have chubb and aig and kinsale could get hit from this. the more the fire spreads, it could impact the reinsurance. the carriers will have surpassed the deductibles or attachments. if you look at arc capital and renaissance re, we will look at meaningful impact. the jpmorgan analysts are not changing the buy/sell recommendations. this is a big near-term problem because it overshadows any promise of higher prices in rates in california's future. that is something that california had been working on. moody's and others are calling into question the impact on the state's insurance market saying the increased recovery costs will likely drive up premiums and reduce the availability of property insurance. this is likely to be a big earnings event for this year as we go through the first and second and third quarters. it takes time to process claims and things like that. frank, we will be watching for the earnings reports and when the insurers start to report the fourth quarter and end of year results. >> just really dramatic pictures of the fire

i'm curious, what do you think will happen to chubb and other companies that went into this excess ande are seeing these individuals were the victims of this palisades fire for instance? >> yes. look, there is also a reinsurance element to this. they are buying insurance and shedding their risk as well, right? for the standard in the excess and surplus lines market, these companies will be there to settle claims. you mentioned aig and other insurers. you know, pure is private. they have high net worth. just as it sounds there will be high property values there. yes, these companies will be there to settle the claims over the upcoming weeks. >> we have to go, but if you have a mortgage, they force you to have it by law so if you owe money to the bank you must have insurance by law. it is so broken. it is so bizarre. >> not just in california. >> anywhere! it does illustrate the problem and if it is an industry or forced by law to have -- by law you've got to have it -- then they should fix it. >> fix it now. >> thanks, elyse greenspan, contessa brewer. >>> in the los angeles area, a pow

chubb began managing down its exposure in the regulated market, where rates have to be approved instead writes property insurance for high net worth individuals. those are not subject to approval aig and pure also offer the high end policies and what we're seeing here, look, these are high end properties in pacific palisades, malibu and the like, so, these are the companies that could actually see some impact from these fires, melissa. >> so, already prior to these fires, i mean, there were the 2017-2018 fires and that really put this whole area into an insurance crisis of sorts, in terms of, you know, insurers pulling out, facing huge losses. how does this sort of -- if all the insurers are on the hook for fair plan, i mean, even if they pulled out, then how do analysts sort of handicap that? >> i think number one, the state has to handicap it first, because again, all of these people are coming in what the state has said is, we recognize that there's a problem. they have not approved the rate hikes that the insurers have asked for, and this has been years in the making, so, that has s

what happened in bu chubb horns and senseless on what happened in blue check? he is now calling for a war crimes trials the on march, the 3rd 2022. russian forces less butcher, a small town. so the kilometers from caves. the next day ukrainian forces ends of the town, including sciences from the nationalist as of battalion, the 3 peters are better than ever. they just told you, i'm not sure on the cell, no point to see you, but it's around the little mother and daisy and there's the seas kit or kia. you're gonna see skippable bonds, you lost them as bringing a ceiling. the union motion was only $4.00 to $5.00 days off the russian troops. the boots dozens of west and general is arrived in the sounds experience video footage was soon and showing load for today to be called the future mess across discussion. we're doing so special ed coordinator, what it shifted to pick a 3 deluxe. and then when it's it up to the company, what do we have to a new car then you don't want to use is up on let me quarter. i thought them. oh, is to peters did at the well, she must on t

today, france began the process of withdrawing troops from chubb permanently by con, sparked a backlash from several african leaders accusing them of failing to say thank you. to french troops battling as long as insurgencies in several african countries. most of what assume we have a secure relationship and it is in truth, it was in 2 parts. in one part was our commitment to fighting terrorism since 2013 we were right. i think some of the forgotten to say thank you, but that's okay. it will come in time. i'm in a good position to know that in gratitude is a disease that cannot be transmitted to humans. but i say this for all the african governments who not have the courage and the face of public opinion to barris that none of them would be in a southern country today, if the french army had not been deployed in this region. frances, in the process of withdrawing troops from chads, set a goal and ivory coast and has recently left molly's new share. and burkina faso is a closer look at how france is grappling with waning influence in the region. moved them 60 years after chad gained inde

big names we know, like travelers, allstate, chubb, all to the down side on some of the perceived exposure of what they might have, and what it could total. lemonade also to watch. down 6% right now. the one you want to keep a close eye on is a name we don't talk about often at all. that's mercury general. it's about a 3 1/2 billion property casualty insurer. they get a bulk of their business from california. and they provided saying they could see some losses exceed their insurance there. keep an eye on mercury general there. they have a sum based on that particular move and disclosure. and the 10-year yield, hitting the highest level since november of 2023 at this point here. on the heels of, like, kelly noted, economic data and elsewhere. 4.75% is where we're at. got to 4.79 as the highs. but you have to go back to november 2023 for these rates. kelly, back to you. >> hard to see it in plain print there at 475 on the 10- year. dom, thanks. >>> that has stocks sliding on a better-than-expected jobs report. and dashed more ropes of rate cuts this year. 260,000 jobs added. average hourly e

chubb, warren buffett has a stake, it's the most of the high net worth policies.ravelers all down. jpmorgan doubled their insured lost estimate of these wildfires to $20 billion with, that's insured losses that these companies are going to have to tackle. economic losses, i've seen numbers between $50-150 billion. so for the insurance industry, losses and liabilities both spiking. stocks down. stuart: let's get to nvidia. i believe it is down today, off nearly 3%. i why? lauren: bloom bell berg is -- bloomberg is reporting chip export regulations could be reported as soon as today. they are slamming president biden for these last minute rules. look, the point of an export control is to make sure that adversaries like china don't have our best a.i. technology the for national security reasons, but nvidia's issue seems like, well, other countries could be named in these export if controls, and that just makes the u.s. lose market share and the world adopt alternate technologies. stuart: i wonder does it preempt trump. lauren: nvidia's ceo says they haven't met yet,

investors dumping shares of insurance companies with exposure to california like allstate, travelers, and chubban estimated insured losses from those fires could top $20 billion, one of the costliest in the state's history. the wildfires are also expected to disrupt hiring, meaning january's job reports could look very different from the blockbuster numbers we saw in december. guys. >> whit: yeah, some of these numbers showing the difference too between wall street and main street, how everyone is reacting to all this. alexis, thank you so much. we appreciate it. >>> let's go back and get another check of the weather. somara theodore, you're watching these winter storms, as well, moving east, and we're seeing the snow in new york. >> somara: we are and saw it in the south. take a look at this. huntsville, alabama, you picked up 4 1/2 inches. i hope you were able to order that stanley before it. you can see the beautiful snow there glazing the ground. in the northeast, we did pick up some of that snow, but that system is actually exiting. behind it it's all about the reinforcing cold air, so pre

allstate, travelers are, chubb, progressive, all these stocks are lore.my question, how is this going to affect the l.a. real estate market? want to bring in million dollar listing los angeles star josh flagg, and my first question is, is your property and home objection, and how are you -- okay, and ho-ho how are you and your family doing? >> we have a place in new york and l.a., so i'm here, i wanted to get out of there. if the house burns, the house burns. i don't need to be anytime, right? let's just put into perspective how big of a deal this actually is. i think people raze it, but i was walking down the street today, this is the size of manhattan. cheryl: i think two manhattans at this point according to our reporter. >> this is apocalyptic. every one of my friends' beach houses are gone. candy spelling, melissa rivers, gone. all of these people rah -- are really close in my life, gone. of it's like something that has never happened in california history. it's insane. and, by the way, this didn't need to happen, if we want to get political. cheryl:

in the history because this was a place which used to be the trade kind of runs, take it from the chubb, which is now damascus. all the way to america. and it is here, according to wisdom traditions in this, in this space where the 1st inclination of the last prophet was given to him when he was a child. and this is, it's historically significant side, these roman era, the statues, and not the facts which are you can see littered on the and to be, uh, are just lying here. and that is what poses a challenge. because in the last 40 me is city is artifacts. a, whether it was probably beat out of the places either they were destroyed by dice, or they have faced extreme looting. bye bye bye looters, as well as the in this of trade is moving, coming to syria and taking these artifacts. but that's not just it. we are in the south of the country where there is a mix balance between somebody's in charge and dues. and this is what has been utilized by the former regime to pick one group against the other and use this trade route to some other drugs into this be very close to the jordanian border

i'm not talking about chubb. and, you know, some of the bigger ones, but i this is going to be a really big problem. and by the way let's talk about the contractors. the contractors are going to come in. they're going to be like this is a field day. all of these properties, they're going to think, okay, let's jack up the prices like a covid. >> yeah. well on the insurance i mean i was looking into this. it was already a pretty fragile insurance market. and there had been, you know, the state's biggest insurance. i was reading just a few months ago, stopped providing home insurance to more than a thousand homeowners in the palisades because they deemed that it was too risky to to insure. so if you're one of those people or you you think that you're insured, but you're underinsured because some of them have the only insurance they can get, but their house price might be worth more than what that is. i mean, it doesn't seem like you have many good options. >> no you don't. you're trying to put it in a nicer. you're

chubb rated down last couple years.ty insurance for high-net worth individuals under surplus lines not subject to the regulatory rate approval aig target the high-end policies that we could see getting hit from the fires most importantly about all this, is will the california insurance market hold? that is the primary question when it comes to where do we go from here. >> contessa, stay right here we will talk more about this with the california insurance market, too. joining us is wayne peacock. he is the outgoing ceo his predecessor will take over at usaa. usaa serves nearly 14 million members with 1 million of those in california. gentlemen, thank you for joining us today let's talk through what we're seeing in california here first. wayne, can you describe the situation? how an insurance company looks at what's happening in california right now >> becky, first of all, thank you for having us on this morning. our hearts and thoughts and prayers go out to everyone in los angeles and all of our members out there as wel

allstate, chubb, travelers. primary insurance will bear the majority of the burden. more severe impact than the 2018. in some way this is a financial translation of the horrors of the situation. nike, a vote of confidence in the new ceo, the stock upgraded to overweight. elliott hill with intensified urgency on an earlier call with healthy profitable growth that might not just be now, but four quarters away. upgrade yourself like the millennials do, this is delta. overseas business, travel, both of them combined with a nice rebound in the numbers guiding higher. this quarter they will make up to a buck. the market had estimated around $.76. free cash flow, $4 billion, up 18%. as i say, 85% of the season this company will put into these premium seats on the planes. millennials, i never afforded business contrast -- business class when i was a millennial. jonathan: of course not. i used to fly with manus. i took a left and he took a right every single time. lisa: pause. u.s. a young lad? jonathan: ryanair didn't allocate seating. you ran across the tarmac. lisa: you sp

you've got shares of dow component travelers, also allstate, chubb, progressive are lower as estimatesosses, economic losses around those tragic wildfires and deadly wildfires in the los angeles area. on the insured losses side analysts on wall street within the insurance industry are seeing a range of anywhere from 8 to 20 billion dollars worth of those insured losses, while some estimates for the total economic losses have gone as high as 100 to 150 billion dollars. now, regardless there's a lot of focus for investors on some of those insurance-related stocks so keep an eye on many of those. >>> also moving on to some of the earnings stories this morning, shares of delta airlines flying high up by nearly 7% after america's biggest airline by market value reported better than expected profits and rep nus. it also gave an upbeat forecast saying it expects 2025 to be its most profitable year in its history thanks in part to continued demand for premium seats and services. so delta airlines is up big on that. >>> we will end on walgreens, shares of the retail pharmacy are soaring by just