Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from the Woolsey Fire in Southern California will be at least USD 2.5 billion. Note that AIR’s estimate of insured losses is based on the assumption of nearly 100% take-up rates. The fact that damage from fire, including wildfire, is included in standard homeowners’… Continue reading AIR Worldwide Estimates Insured Losses from Woolsey Wildfire Will Be At Least $2.5B
Tag: wildfires
2.9 Million Coloradans Now Live in Areas at Risk of Wildfire
The number of Coloradans whose homes are at risk from wildfires soared 45 percent in five years, reflecting the state’s booming population and changing uses of agricultural land, state officials said. The Colorado State Forest Service said 2.9 million people now live in the wildland-urban interface, defined as places where homes are built in or… Continue reading 2.9 Million Coloradans Now Live in Areas at Risk of Wildfire
Camp Fire Victims in Northern California Sue PG&E
Two dozen victims of the Camp Fire sued Pacific Gas & Electric Co. and its parent corporation in San Francisco Superior Court on Tuesday, alleging in part that the utility’s “corporate culture” was to blame for the devastating blaze. The lawsuit also alleges that the wildfire ignited in Pulga on Nov. 8 because PG&E did… Continue reading Camp Fire Victims in Northern California Sue PG&E
Investors Flee As PG&E Faces Scrutiny Over Cause of Northern California’s Camp Fire
Investors are bailing out on PG&E as the troubled utility potentially faces more financial liability from the Camp Fire in Butte County, one of the state’s most deadly wildfires. PG&E’s stock price has fallen by one third since the utility disclosed to state regulators late Thursday that one of its transmission lines suffered an outage… Continue reading Investors Flee As PG&E Faces Scrutiny Over Cause of Northern California’s Camp Fire
Firefighters Battle Deadly California Wildfires, At Least 31 Dead
Firefighters are battling two deadly California wildfires that have claimed at least 31 lives, left more than 200 people missing and put a quarter million residents under evacuation, while unhealthy smoke levels have prompted warnings to stay indoors. The Camp Fire in Butte County, about 100 miles north of Sacramento, grew slightly to a total… Continue reading Firefighters Battle Deadly California Wildfires, At Least 31 Dead
California Fire Forces Mass Evacuations from Malibu to Calabasas; Many Homes Lost
The Woolsey Fire made a destructive march through Ventura and Los Angeles counties on Thursday, destroying numerous suburban homes, closing freeways and causing portions of cities from Calabasas and Thousand Oaks to Malibu to be evacuated. The 8,000 acre fire jumped the 101 Freeway Friday morning and was making a march toward the Pacific Ocean,… Continue reading California Fire Forces Mass Evacuations from Malibu to Calabasas; Many Homes Lost
California 2018 Fire Insurance Claims Top $845 Million
California Insurance Commissioner Dave Jones today announced that insured residential and commercial losses from the Carr and Mendocino Complex fires top $845 million and are now counted among the most destructive wildfires in the state’s history. The insurance commissioner also provided an update on the insured losses from the 2017 wildfires and 2018 Montecito mudslides… Continue reading California 2018 Fire Insurance Claims Top $845 Million
FEMA Overwhelmed by Hurricanes and Wildfires in 2017, According to GAO
The back-to-back devastation of hurricanes Harvey, Irma and Maria, followed by catastrophic wildfires in California, overwhelmed federal disaster responders in 2017, according to a government report released Tuesday. The unprecedented sequence of storms and fires forced Federal Emergency Management Agency staff to jump from one disaster to another and in some cases use uncertified workers… Continue reading FEMA Overwhelmed by Hurricanes and Wildfires in 2017, According to GAO
CA Gov. Brown Signs Bill To Provide Property Replacement Cost Estimates Every Other Year
Gov. Jerry Brown of California on Monday signed a bill that protects homeowners whose property may be underinsured. AB 1797 by Assemblyman Marc Levine, D-Marin County, requires companies writing residential property insurance to conduct a replacement cost estimate every other year. The legislation will ensure policyholders are covered with current and timely estimates that reflect… Continue reading CA Gov. Brown Signs Bill To Provide Property Replacement Cost Estimates Every Other Year