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
Analysis: Larson enters conversation with Verstappen as best drivers in the world
INDIANAPOLIS (AP) — Ask almost any hardcore motorsports fan who the best driver in the world is righ2024-05-21Indefatigable Team of Women Transform Barren Coastal Area of Hainan with Largescale Tree
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21China's Xie wins men's 100m gold at Hangzhou Asiad
(Xinhua) 09:39, October 01, 2023Xie Zhenye of China celebrates after the Men's 100m Final of Athleti2024-05-21Japan teen Anraku wins Asiad men's combined sport climbing
(Xinhua) 09:00, October 07, 2023HANGZHOU, Oct. 6 (Xinhua) -- Despite unexpected rainfall, Sorato Anr2024-05-21DR MARTIN SCURR: How losing your hearing may cause dementia
Q: You said in a column last month that poor hearing is linked to dementia risk. Could you please ex2024-05-21Rose in the Desert: Breathing Clean Air a Human Right
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21
atest comment