Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing
BOISE, Idaho (AP) — Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news — their property insurance won’t be renewed because their insurance company has deemed the risk too high.
It’s a problem that has played out in states across the U.S. as climate change and increasing development has raised the risks of wildfires and other natural disasters damaging communities. Insurance providers, state regulators and researchers are grappling with how to keep the insurance companies in business while keeping residents and their properties insured and protected.
“I think most of the insurers, you know, I’m very grateful that they’re committed to the Hawaii market, so we haven’t seen wholesale withdrawals,” after the Aug. 8, 2023 fire burned through Lahaina and killed 101 people, Hawaii Insurance Commissioner Gordon Ito said during a Wildfire Risk Forum for insurance commissioners held at the National Interagency Fire Center in Boise, Idaho.
Related articles
Rhod Gilbert shares cancer update as he admits he's 'pinching himself' over performing stand
Rhod Gilbert is delighted to be back on stage performing stand-up comedy two years after he was diag2024-05-01Hong Kong lawmaker's petition opposing Gay Games is prejudiced, activist says
A Hong Kong LGBT+ activist has said that a lawmaker’s petition opposing the city’s co-ho2024-05-01VOX POPULI: Voters won’t forget ‘politics of oblivion’ in the next election
Fictional detective Sherlock Holmes is a genius at forgetfulness.In “A Study in Scarlet” by Arthur C2024-05-01- The law change will mean that cough and cold medicines containing pseudoephedrine will be available2024-05-01
What's causing the catastrophic rainfall in Kenya?
NAIROBI, Kenya (AP) — The torrential rains and deadly floods that have hit Kenya since March have be2024-05-01Chinese warships sail around Japan as tensions rise ahead of G7 summit
Your web browser is no longer supported. To improve your experience update it here2024-05-01
atest comment