Tag: Marshall Fire

Up to Two-Thirds of Homes Destroyed in Marshall Fire May Be Underinsured

insurers exodus from wildfire regions

According to preliminary estimates from Colorado’s insurance division, one-third to two-thirds of the homes destroyed in the Marshall Fire may have been underinsured for replacement costs (DOI). “One of the more troubling issues in the aftermath of the Marshall Fire has been the problem of underinsurance for people who lost their homes,” the Department of… Continue reading Up to Two-Thirds of Homes Destroyed in Marshall Fire May Be Underinsured

Closely Built Homes Help Spread Colorado Marshall Fire

High winds 80 to 100 miles per hour fueled apocalyptic wild fires which tore across open grasslands and through homes in Superior, Colorado off highway 36. Power was cut to 34,000 homes and over 30,000 residents were forced to evacuate. Over 500 homes were destroyed by the Marshall fire outside Boulder, Colorado which was sparked by downed power lines in high winds on December 30, 2021.

Too many houses built too close together on the tinder-dry high plains between Denver and Boulder resulted in $1 billion in Marshall firestorm losses, insurance industry researchers discovered this week as they sifted through ashes and charred ruins. They were starting an investigation, similar to the work done after previous devastating fires, such as the… Continue reading Closely Built Homes Help Spread Colorado Marshall Fire

AM Best: Demand Surge and Inflation to Increase Colorado Wildfire Losses

High winds 80 to 100 miles per hour fueled apocalyptic wild fires which tore across open grasslands and through homes in Superior, Colorado off highway 36. Power was cut to 34,000 homes and over 30,000 residents were forced to evacuate. Over 500 homes were destroyed by the Marshall fire outside Boulder, Colorado which was sparked by downed power lines in high winds on December 30, 2021.

AM Best has warned that a surge in demand and inflation will amplify losses from the late-season Marshall Fire in Boulder County, Colorado, which destroyed over 1,000 structures on December 30th, 2021. The wildfire arrived at the end of last year and burned through approximately 6,000 acres in two days, becoming the most expensive fire… Continue reading AM Best: Demand Surge and Inflation to Increase Colorado Wildfire Losses

Marshall Fire Insured Losses Estimated at $1 Billion: KCC

High winds 80 to 100 miles per hour fueled apocalyptic wild fires which tore across open grasslands and through homes in Superior, Colorado off highway 36. Power was cut to 34,000 homes and over 30,000 residents were forced to evacuate. Over 500 homes were destroyed by the Marshall fire outside Boulder, Colorado which was sparked by downed power lines in high winds on December 30, 2021.

The recent severe wildfire outbreak that was named the Marshall Fire and impacted residential areas in Boulder County, Colorado, has been estimated as around a $1 billion insurance industry loss, by risk modeller Karen Clark & Company. About 1,000 properties destroyed and more damaged by the Marshall Fire, there was a strong chance insurance and… Continue reading Marshall Fire Insured Losses Estimated at $1 Billion: KCC

Communities Far from Flammable Forests Increasingly at Risk As Embers Flung for Miles in CO Wildfire

two silhouette on housefire background

Boulder County Commissioner Matt Jones was driving back from photographing a winter wildfire six miles from his home when his wife called to say they were being evacuated due to the same blaze. “This can’t be happening,” Mr. Jones, who had spent years fighting wildfires, recalled thinking. “Wildfires do not strike Louisville, Colorado.” The 6,067-acre… Continue reading Communities Far from Flammable Forests Increasingly at Risk As Embers Flung for Miles in CO Wildfire

Colorado Residents, Business Owners Face Challenging Insurance Situation in the Wake of Marshall Fire

Residents and business owners who lost everything in the Marshall Fire face a daunting insurance situation in which skyrocketing property values and supply-chain shortages make it unlikely that many home or business insurance policies will cover the full cost of rebuilding. “Statewide, we’ve had all these increases in property values, and very often the policies… Continue reading Colorado Residents, Business Owners Face Challenging Insurance Situation in the Wake of Marshall Fire