Estimates for insured property losses associated with Hurricane Laura by catastrophe risk modeling firms Air Worldwide and Karen Clark and Co. (KCC) are similar — both fall into the $8 billion range — but they are not exactly the same. …
For most of the 20th century, the insurance industry considered wildfires to be little more than a benign nuisance. They occurred frequently but rarely resulted in more than a handful of claims, and underwriters priced for them in the same …
Nearly 776,000 homes with a reconstruction cost value of more than $221 billion are at extreme risk of wildfire damage, a new report out Thursday shows. The 2019 CoreLogic Wildfire Risk Report examines single-family and multifamily residential properties at risk …
Severe wildfire seasons have made it harder for homeowners to find insurance in high wildfire-risk areas, according to new data collected by the California Department of Insurance. The data released this week from the CDI shows a 6% increase in …
Global risk modeling and analytics firm, RMS, has estimated that the insured U.S. losses from Hurricane Barry will not exceed $500 million. This estimate represents insured losses associated with wind, storm surge and inland flood damage, including losses to the …
State fire investigators have determined that transmission lines owned by Pacific Gas & Electric Co caused the deadliest and most destructive wildfire on record in California, a blaze that killed 85 people last year, officials said on Wednesday. The wind-driven …
Insured losses from the most destructive wildfire month in California’s history climbed $614 million in the first three months of the year, pushing total claims over $12 billion as of April, the California Department of Insurance announced on Wednesday. Together …
Establishing a California Wildfire Commission is just one idea an expert is tossing out to help the state deal with worsening fire seasons. James Woods was formerly co-leader of Mayer Brown’s Global Insurance Industry Group and chair of the LeBoeuf, …
California Insurance Commissioner Ricardo Lara on Monday announced that more than $11.4 billion in insured losses have been reported from the November 2018 fires. That is a 25 percent increase, or more than $2.3 billion, from losses the California Department …
The California wildfires of 2018 were devastating, burning hundreds of thousands of acres, costing numerous lives and destroying thousands of properties. The California Department of Insurance in early December put the official tally for insured losses from the year’s major …
