California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for 750,000 policyholders affected by the Airport, Bridge, and Line fires in the counties of Orange, Riverside, Los Angeles, and San Bernardino. …
Hannah Whyte is one of thousands of Californians who have struggled to insure their property in the event of wildfire. Her 77-acre farm nestled deep in a wildfire-vulnerable forest lost its coverage from State Farm after the mountainous region burned …
California Insurance Commissioner Ricardo Lara has identified areas in the vicinity of the several ongoing large wildfires in the state that will be protected by a one-year moratorium on homeowners insurance non-renewal or cancellation due to wildfire risk. Lara’s action …
California homeowners could be required to pay a surcharge if the state’s insurer of last resort is unable to cover losses from a catastrophic wildfire. The California Department of Insurance sent a bulletin to insurance companies this week outlining how …
California, Oregon, Colorado, Washington and Arizona are the states most at risk for wildfires, earning an “F” rating, according to a new analysis by Guidewire detailing wildfire risk in the U.S. at local, state, and national levels. Guidewire’s HazardHub data …
Southern California Edison, a unit of utility Edison International said on Thursday it was seeking approval for a settlement agreement to recover nearly 60% of losses related to wildfires and mudslides in 2017 and 2018. Under the agreement with the …
Cody Chiverton has spent the past decade lighting fires. As a former firefighter with the U.S. Forest Service, he participated in dozens of prescribed burns across the American West, in which fire-prevention teams would carry drip torches to ignite dry …
California’s wildfires are weighing on home prices more than in the past, and insurance availability does little to help in areas considered to be at higher risk, according to a Federal Reserve Bank of San Francisco study. “Our results suggest …
Like single-family homeowners in California, landlords are facing higher insurance premiums, too. And they’re passing along some of those costs to their tenants. Many insurance companies have stopped writing policies in the state because of increased wildfire risks, but that’s …
Ten of the top 15 metropolitan areas for wildfire risk concentration are in California, while more than 2.6 million homes across 14 states with a total reconstruction cost of $1.3 trillion are at moderate to very high risk of wildfire …
