Bracing for another year of severe, destructive fires, California’s governor on Tuesday approved a half-a-billion dollar emergency funding plan to prepare for the looming wildfire season. The state, which saw its worst fire season on record last year, is descending deep into a drought that portends even more megablazes this year. But experts say that… Continue reading California is Poised for a Catastrophic Fire Season, Emergency Funding Not Enough
Tag: California wildfire season
2020 California Wildfires May Lead to Further Spikes in Reinsurance Rates: AM Best
Considering the existing rate hardening that has been created by the COVID-19 pandemic, this year’s record-breaking California wildfire season could spur further reinsurance rate increases, AM Best says. The 2020 wildfire season has affected coastal areas that do not usually burn and has seen the still-ongoing LNU Lightning Complex event and the SCU Lightning Complex… Continue reading 2020 California Wildfires May Lead to Further Spikes in Reinsurance Rates: AM Best