California will now let insurance companies consider climate change when offering policies, in exchange for a mandate requiring them to offer coverage in wildfire-prone areas, state leaders announced on Thursday.
Tag: wildfire insurance
Delos Insurance Solutions Expands Wildfire Insurance Options for California Homeowners
Delos Insurance Solutions, which uses wildfire science and aerospace expertise to solve insurance availability and affordability issues, announced today the launch of a program to expand homeowners’ insurance options for California homeowners facing wildfire risks.
Aon Collaborates with the University of California to Enhance Wildfire Modeling
Aon plc, a leading global professional services firm, today announced a new collaboration between its Impact Forecasting team, the University of California, Merced and the University of California, Los Angeles to implement the latest climate change science and research into Aon’s U.S. wildfire catastrophe model. The collaboration includes research from some of the nation’s top… Continue reading Aon Collaborates with the University of California to Enhance Wildfire Modeling
Some Properties Are Getting Too Costly to Insure Amid Climate Change
As climate change threatens the United States with more natural disasters, it’s becoming more expensive for Americans to insure their homes — and the situation is only expected to worsen, according to experts. “These things are happening more frequently, and they’re causing more damage,” said Jeremy Porter, chief research officer at First Street Foundation, a… Continue reading Some Properties Are Getting Too Costly to Insure Amid Climate Change
New California Rules Aim to Lower Property Insurance Rates
California’s insurance commissioner announced new rules on Friday aimed at lowering premiums for people who make improvements to their property to resist wildfires. Ricardo Lara said the new rules will require insurance companies to factor property owners’ improvements into the pricing of residential and commercial coverage. He said the new rules could take effect this… Continue reading New California Rules Aim to Lower Property Insurance Rates
California State Regulators Unveil Wildfire Safety Plan
California is implementing a three-pronged approach dubbed “Safer from Wildfires” to reduce the wildfire risk of older homes, including measures to harden homes, their immediate surroundings and the communities they are in. California has existing wildfire building standards for homes built after 2008. But as catastrophic megafires drive up the cost of insuring homes and… Continue reading California State Regulators Unveil Wildfire Safety Plan
Amwins Experts Offer Tips to Obtain Hard-to-Get Wildfire Insurance
Historically, wildfires have been considered a California-centric risk exposure and with good reason as the top 10 costliest wildfires in the United States have occurred in the state—eight within just the past five years, according to the Insurance Information Institute. Wildfire risk exposure, however, is not limited to California. Forty-five of the 50 states have… Continue reading Amwins Experts Offer Tips to Obtain Hard-to-Get Wildfire Insurance
California State Regulators Unveil Wildfire Safety Plan
California State regulators rolled out a “Safer from Wildfire” program Monday to encourage rural residents and business owners to gird their properties as a way of fixing the insurance crisis that’s plagued the Sierra foothills and other fire-prone areas the past few years. The plan unveiled by Insurance Commissioner Ricardo Lara is designed to entice… Continue reading California State Regulators Unveil Wildfire Safety Plan
Nearly 1,000 Structures Destroyed in Colorado Fire
After a wildfire charred numerous neighborhoods in a suburban area at the base of the Rocky Mountains, a Colorado official says nearly 1,000 homes and other structures were destroyed, hundreds more were damaged, and three people are missing. Boulder County Sheriff Joe Pelle also stated on Saturday that investigators are still looking for the cause… Continue reading Nearly 1,000 Structures Destroyed in Colorado Fire
PG&E Faces Criminal Charges Over Fatal 2020 Wildfire in California
Prosecutors in Northern California filed criminal charges against Pacific Gas & Electric on Friday in connection with the deaths of four people last year in a wildfire that was linked to the utility’s equipment. The Shasta County district attorney brought the charges — including manslaughter, along with other felonies and misdemeanors — in connection with… Continue reading PG&E Faces Criminal Charges Over Fatal 2020 Wildfire in California