Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing
Time:2024-05-21 20:18:50 Source:opinionsViews(143)
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.
You may also like
- Bichette has 4 hits, Berríos snaps 4
- Year after flip flop, NBC's Eddie Olczyk hopes he feels better about his Kentucky Derby pick
- German foreign minister says Russia will face consequences for monthslong cyber espionage
- Las Vegas Sicko 'caught chomping on a dead victim's EYEBALL' is seen for the first time
- Israeli army says it kills over 130 militants in E. Rafah
- Mick Jagger wades into politics, taking verbal jab at Louisiana state governor at performance
- Anthony Edwards and the T
- Cambodia's Supreme Court upholds the 2
- Harris accepts debate invite to face off with Trump's VP pick, which may come at convention