Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing
Time:2024-05-01 03:53:03 Source:travelViews(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.
Previous:To fend off tourists, a town in Japan is building a big screen blocking the view of Mount Fuji
Next:Explainer: What makes China magnet for multinational corporations?
You may also like
- Iran commutes a tycoon's death sentence to 20 years in prison
- Caitlyn Jenner, 74, and longtime gal pal Sophia Hutchins, 26, match up in black as they attend star
- How to design a volunteering program in your workplace
- Crews to extinguish fire from train derailment near Arizona
- Finnish hacker imprisoned for accessing thousands of psychotherapy records and demanding ransoms
- Marlins place struggling outfielder Avísail García on injured list
- Rangers rookie Wyatt Langford hits an inside
- Caitlyn Jenner, 74, and longtime gal pal Sophia Hutchins, 26, match up in black as they attend star
- 5 takeaways from the global negotiations on a treaty to end plastic pollution