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:
Related suggestion:
Vermont to grant professional licenses, regardless of immigration status, to ease labor shortageVatican updates norms to authenticate visions of Mary, weeping statues and stigmataHouston storms: At least 4 killed, power cut in 900,000 homesNuclear war expert reveals what would really happen after an atomic blast'ALL Brits are welcome!' Mayor of Magaluf's message to UK holidaymakers following 'tourismThe Starmer Stone! Keir apes BlairThe Netherlands says it will opt out of EU rules to bring in its 'strictestPutin focuses on trade and cultural exchanges in Harbin, China, after reaffirming ties with XiMeghan and Prince Harry 'are planning to do more royalFrench police killed a suspect planning to set fire to a synagogue
2.1439s , 6499.3046875 kb
Copyright © 2024 Powered by Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing ,Earthly Insights news portal