California is taking a historic step to address its insurance crisis in wildfire-prone areas. Under a new state regulation announced recently, insurers withdrawing from high-risk zones must return if they wish to continue doing business in the state.
Tag: CA wildfires
With More Tourists Comes More Risk for Wildfires
The surge in tourism to wildfire-prone areas like Mariposa, California, is igniting new challenges for communities and reshaping the landscape for the insurance industry.
CA State Regulators Disclose Wildfire Neighborhoods Targeted for Insurance Relief
California regulators Wednesday disclosed which areas of the state insurers will have to cover if they want to take advantage of financial incentives intended to resolve the homeowners’ insurance crisis.
CA Commissioner Lara Gives Progress Report on Sustainable Insurance Strategy
Insurance Commissioner Ricardo Lara told California Assembly members at a legislative oversight hearing that “California is at an insurance crossroads and for many Californians this is an insurance emergency.”
Homeowners Flock to Last-Resort Insurance Policies
More than 30 states have some form of last-resort plan for people who can’t get coverage elsewhere. Plans can be statewide or restricted to coastal regions. Coverage varies between states, ranging from all-perils policies to those that cover wind, hail or fire only.
Climate Change Boosts Risk of Explosive Wildfire Growth in California by 25%, Study Says
Climate change has ratcheted up the risk of explosive wildfire growth in California by 25% and will continue to drive extreme fire behavior for decades to come, even if planet-warming emissions are reduced, a new study has found.
Southern California Edison Sued Over Deadly, Destructive Hemet Wildfire
The city of Hemet claims in a lawsuit that Southern California Edison equipment ignited a damaging wildfire last fall.
Water Scarcity Is Baking Cropland, Ramping Up Wildfire Risk from California to Texas
Normally at this time of year, Katy Kemp’s 80 head of cattle would be grazing on her family’s ranch in Staples, Texas. Instead, the herd is living off dwindling hay stores as drought dries up grassland and chokes off crops. Parts of Texas are so starved for water that ranchers are trucking feed 1,000 miles… Continue reading Water Scarcity Is Baking Cropland, Ramping Up Wildfire Risk from California to Texas
California’s Largest Utilities to Spend About $13B to Reduce Risk of Wildfires
California’s largest utilities said Friday that they will spend about $13 billion to reduce the risk of wildfires following the worst fire season in modern state history and a string of blazes that were blamed on their equipment. Pacific Gas & Electric, Southern California Edison, San Diego Gas & Electric and some smaller utilities filed… Continue reading California’s Largest Utilities to Spend About $13B to Reduce Risk of Wildfires
California Winds Bring Wildfires, Power Outages to Thousands
A windstorm that fanned brushfires, toppled trees and left thousands of Californians without power focused its remaining energy Wednesday on the southern end of the state, where forecasters warned of the additional threat of heavy rain and flash flooding. Strong winds were forecast through the day before tapering off. A low-pressure system moving across northern… Continue reading California Winds Bring Wildfires, Power Outages to Thousands