Latest Wildfire Headlines
All the headlines from our Wildfire Topic Page, ordered by recency.
Report Calls out California Wildfires Among 2017 U.S. Hazards
Feb 5 2018 // CoreLogic’s annual Natural Hazard Risk Summary and Analysis released in late January shows that 2017 was a year of relatively average activity for most U.S. natural hazards with the exception of wildfires in...
Statewide Claims for California Wildfires Reach Nearly $12B
Jan 31 2018 // Insurers have received nearly 45,000 insurance claims totaling more than $11.79 billion in losses from the wildfires that burned across the state in October and December 2017, California Insurance Commissioner Dave Jones...
Chubb Records Solid Q4 and Year Despite Catastrophe Losses
Jan 31 2018 // Chubb had a solid last quarter of 2017 and year even though challenged by wildfire and other catastrophe costs. Fourth quarter results were enhanced by a one-time gain from the Trump tax cuts. The insurer booked $1.5...
Winter Wildfires Scorch Western Oklahoma
Jan 30 2018 // Firefighters say wildfires have scorched hundreds of acres in western Oklahoma, damaging fences and equipment but causing no injuries. Capt. Forrest Valentine of the Clinton Fire Department said Sunday firefighters battled...
2017’s Natural Hazards and the Destruction They Brought: CoreLogic
Jan 25 2018 // CoreLogic’s annual Natural Hazard Risk Summary and Analysis shows that 2017 was a year of relatively average activity for most U.S. natural hazards with the exception of wildfires in California and flooding from...
Insured Natural Disaster Losses in 2017 Were 38% of Economic Costs of $353B: Aon
Jan 24 2018 // Insured losses for last year’s 330 natural catastrophes reached US$134 billion, or 38 percent of their economic price tag of $353 billion, according to a report published by Impact Forecasting, Aon Benfield’s...
Losses From Southern California Fire Could Reach $2.5B, Expert Says
Jan 23 2018 // Losses from the Thomas Fire in Southern California are expected to fall between $1 billion and $2.5 billion, a catastrophe modeling firm said on Tuesday. The Thomas Fire, which raged across Southern California’s...
Tree Company Sued, Blamed for 2011 Texas Wildfire that Killed 2
Jan 23 2018 // Texas is suing a vegetation management company that it alleges caused the 2011 Bastrop County Complex Fire, the most destructive wildfire in Texas history. The lawsuit filed on Jan. 19 by Texas Attorney General Ken Paxton...
Travelers Manages Q4 Profit Despite Wildfires, Tax Hit
Jan 23 2018 // Property/casualty insurance giant Travelers Companies Inc. reported net income of $551 million for the quarter ended December 31, 2017, a 42 percent drop compared to $943 million in the prior year quarter. The drop was...
XL Group: Loss Estimates of $45M Related to Southern California Wildfires
Jan 22 2018 // XL Group Ltd. in mid-January announced preliminary estimates of natural catastrophe net losses of roughly $45 million related to the recent wildfires in Southern California and $20 million related to other events. The...
California Commissioner Issues Report on Fire Insurance Availability Issues
Jan 22 2018 // California Insurance Commissioner Dave Jones in mid-January released a report on the growing problem of homeowners fire insurance availability and affordability in many areas throughout the state. The report recommends...
California Wholesaler Conference Questions: Rising Premiums, Disruption, Disasters?
Jan 22 2018 // Surplus lines in California had a great year with more premium and more items, such as policies and endorsements sold. However, surplus lines brokers had to work harder for all that premium. That’s according to Ben...
California Earthquake Authority Chief Talks About 1 Million Policies
Jan 18 2018 // Glenn Pomeroy, CEO of the California Earthquake Authority, is as enthusiastic of an earthquake policy salesman as you’ll find anywhere. Pomeroy has headed the state’s privately funded, publicly managed seller...
Insurers Increasing Payments to California Wildfire Victims Sans Itemization
Jan 18 2018 // California Insurance Commissioner Dave Jones on Thursday released the results of the formal notice he issued last month to all residential property insurers requesting they provide up to 100 percent of contents coverage...
California Commissioner and Legislators Unveil Wildfire Insurance Bills
Jan 16 2018 // California Insurance Commissioner Dave Jones and legislators from wildfire-damaged communities across the state unveiled eight bills and two additional legislative proposals proponents say will strengthen consumer...
Philadelphia Insurance Cos. Employees Plant Trees in Wildfire-Devastated Texas Park
Jan 12 2018 // Fifty Philadelphia Insurance Companies (PHLY) employees are supporting the company’s efforts to plant 80,000 trees for the third consecutive year through a two-day project near Austin, Texas. Employees have finished...
Alternative Capital Responds to 2017 Catastrophes with ‘Show of Strength’: Aon Benfield
Jan 11 2018 // Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to...
XL Group: Loss Estimates of $45M Related to Southern California Wildfires
Jan 11 2018 // XL Group Ltd. on Wednesday announced preliminary estimates of natural catastrophe net losses of roughly $45 million related to the recent wildfires in Southern California and $20 million related to other events. The...
Southern California Edison Blamed in Lawsuit for 3 Los Angeles-Area Wildfires
Jan 10 2018 // Edison International’s Southern California Edison was blamed in a lawsuit for three wildfires that destroyed more than 1,000 buildings and killed a firefighter last month in the Los Angeles area. While no official...
California Wildfires Top Arch Capital’s Q4 Catastrophe Losses of $60M-$75M
Jan 10 2018 // Arch Capital Group reports estimated pre-tax losses of $60 million to $75 million from fourth quarter catastrophic events, primarily the California wildfires. This estimated range of losses – net of reinsurance...
