California wildfire risk News

Many Californians Being Left Without Homeowners Insurance Due to Wildfire Risk

Acquiring home insurance has long been a mundane but necessary chore. In California, for hundreds of thousands of residents, it’s turned into a labyrinthine quest that leaves people with expensive, bare-bones coverage. That’s because an increasing amount of Californians have …

New Mercury Insurance Programs Target California Homeowners’ Wildfire Risk

Mercury Insurance has launched two new programs designed to help Californians better protect their homes and families if they live in areas prone to wildfires. Homeowners who take one or more steps to either harden their homes against wildfires or …

Wildfire Risks: How Cincinnati’s Approach Combines the Best of Data and Personal Connection

Insurance Journal’s Pamela Simpson interviewed Dorothy Sarna, National Loss Prevention Program Director of The Cincinnati Insurance Companies, to explore the carrier’s approach to underwriting high net worth home insurance in California, Oregon, Montana and other states experiencing increased incidents of …

2018 California Wildfires – An Actuarial Review

This post is part of a series sponsored by CoreLogic. 2018 was another catastrophic year for wildfires across the United States. Nearly 9 million acres burned, and many lives, homes and businesses were lost. California alone had over 1.8 million …

Sage Insurance Increases Capacity, Coverage for Secondary Homes in California

Sage Insurance Holdings LLC (Sage), a California wildfire-focused homeowners insurance provider, has increased its capacity and will now write exposures up to $4 million TIV. For a primary home, that translates to an allowable Coverage A of $2.1 million. In …

California’s Fair Plan Balks at State’s ‘Misguided’ Order to Expand Coverage

The insurers behind California’s Fair Plan, the insurance market of last resort for homeowners, think it’s a bad idea to broaden the coverages available from the Fair Plan beyond basic dwelling fire insurance, an expansion being ordered by the state’s …

Millions in Northern, Central California Lose Electricity to Mitigate Wildfire Risks

California utility giant PG&E Corp. expanded the biggest blackout that has ever been orchestrated to prevent wildfires with a second round of shutoffs in the Sierra Nevada foothills. The company told reporters late Wednesday that it had begun the second …

Church Mutual, Church & Casualty Pilot Wildfire Loss Prevention Program in California

Church Mutual Insurance Company and Church & Casualty Insurance Agency have launched CM Wildfire Solutions, a no-cost, multifaceted program to keep customers and their property safe from the devastation of wildfires. CM Wildfire Solutions is being piloted in California with …

Number of Homes at Risk of Wildfire in Western States Jumps 62%: CoreLogic

The number of homes at risk from wildfires in western U.S. states jumped 62 percent in the past year as more properties were developed in fire-prone areas, according to a report released on Thursday. About 1.2 million homes valued at …