March 4, 2025: Firefighters in North and South Carolina are battling over 170 wildfires, leading to evacuations and emergency declarations as dry and windy conditions continue to fuel the blazes.
Tag: wildfires
Closing the Gap: Solutions to Address Wildfire Insurance Challenges in California
As wildfires become a growing threat in California, many residents face an uncertain future regarding home insurance. Recent legislative efforts aim to provide relief and address the challenges posed by a strained insurance market in fire-prone areas.
Epic Wildfires in Southern California: Widespread Damage and Insurance Challenges
Southern California wildfires have destroyed thousands of homes, caused tens of billions in estimated losses, exposed gaps in insurance coverage, and raised concerns about the financial toll on both residents and insurers.
Here’s Why California Isn’t Simply Using Ocean Water to Fight the Wildfires
Wildfires are sweeping through Los Angeles County, scorching more than 36,000 acres, destroying at least 10,000 structures, and claiming the lives of at least 11 people.
Balancing Wildfire Risks: Proposed Logging Increase in the Pacific Northwest
The U.S. Forest Service has unveiled a plan to boost logging across federal lands in the Pacific Northwest. The initiative aims to mitigate wildfire risks and breathe new life into rural economies by increasing timber supply.
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.
Wildfires Spark Concern Over Rising Insurance Rates
The recent wildfires in Southern California have scorched tens of thousands of acres and destroyed many homes, raising concerns about the impact on fire insurance rates.
Insurance Premium Hikes Strike Condo Associations
Insurance costs are exploding for condo associations across the U.S., raising the cost of homeownership and making it harder for some owners to sell their units.
Catastrophe Bonds Based on Models that Often Underestimate Climate Risks
Catastrophe bonds and other insurance-linked securities, which powered last year’s highest-returning hedge fund strategy, are built on calculations that can underestimate a new breed of risk stemming from high-frequency events such as wildfires and thunderstorms, according to veteran investors.
Pricier Insurance Makes Sense as Climate Risk Grows, Chubb CEO Says
Surging insurance premiums in regions vulnerable to climate change make sense, and government efforts to hold back those increases won’t work in the long term, Chubb Chief Executive Evan Greenberg said.