and Oregon isn't the only state grappling with how to manage the risk. Washington state andColoradohave also recently moved to address fire risk in their communities, and anew ruleannounced in California last week will require insurance companies to provide policie...
Related:California Commissioner Moves to Implement Insurance Rate Review Reforms The report from the Irvine, California-based catastrophe modeler and property data provider lists following states as having the highest number of homes at moderate or greater risk of wildfire exposure: California: 1,258,74...
All Taxpayers Are Footing the Rising Cost of Fighting High-Risk WildfiresAs we move toward the end of the 2013 wildfire season, a newinsurance industry analysis has...Meador, Ron
PURE Programs offers a broad range of E&S insurance solutions to high net worth clients, including High Value Home Insurance for Coastal and Wildfire Exposed Homes.
California’s New Home Insurance Rules Start in January A significant change in California’s insurance market could provide relief for homeowners in neighborhoods at high risk of wildfires. Read More » December 23, 2024 Can Home Hardening Control Wildfire Destruction?
Fearing a crisis, Garamendi shoved the Fair Plan into the breach. The program, designed to cover hard-to-insure homes in wildfire zones and businesses in the inner cities, was extended statewide. Since the emergency plan took effect last July 1, Fair Plan has added about 28,000 residential...
“Guy Carpenter’s conclusion for severe conductive storm, as well as aspects of hurricane and wildfire risk, is [that] the increase in recent industry losses is driven predominantly by human influences outside of climate change,” Josh Darr, Global Head of Peril Advisory at Guy Carpenter, said...
The issue can have repercussions beyond the price of electricity. In the past year, seven of the top 12 insurance companies doing business in California have either paused or restricted new business in the state, citing wildfire risk. On a recent afternoon, Poppe — PG&E's CEO since...
One of the worst nightmares you can imagine is being contacted by a Missouri State Highway Patrol officer alerting you that someone you care about has been in an accident. There are calls like that happening right now, but they're not coming from the Missouri State Highway Patrol. ...
Losses from the hazards beyond the traditional peak perils of hurricanes and earthquakes, including flood, severe thunderstorm, and wildfire, now account for a much larger proportion of the overall annual losses, due to the combination of more frequent events and more valuable...