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:
China initiates program to boost employment among college graduatesEven the boss is worried! Hundreds of chief executives fear AI could steal their jobs tooChinese artists from Yunnan perform in Capital Governorate, KuwaitKobe Bryant's widow gifts sneakers from her late husband's Nike line to LA Dodgers as AllAdvanced technologies spur lowChina initiates program to boost employment among college graduates2023 Beijing Culture Forum to be heldU.S. moon lander Peregrine completes reIn new movie, the South started the Korean War, as Pyongyang has always claimed — Radio Free AsiaEven the boss is worried! Hundreds of chief executives fear AI could steal their jobs too
1.9307s , 6502.7734375 kb
Copyright © 2024 Powered by Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing ,Worldly Workshop news portal