NU Online News Service, Sept. 9, 3:45 p.m. EDT
Insurers are on site and responding to an influx of claims in the Boulder, Colo., area where a wildfire has destroyed 140 structures, including 135 homes.
Several thousand people remain evacuated from their homes, although some have been allowed to return with a warning that they may be asked to evacuate again. Favorable weather conditions--rain, high humidity and low winds--allowed firefighters to gain a measure of control against the blaze, which has consumed about 6,400 acres.
Carole Walker, executive director with the Rocky Mountain Insurance Information Association, said it was too early to speculate on insured losses for companies from what is being called the Fourmile Canyon Fire. Insurers are in the area and are writing checks to evacuated policyholders for living expenses if they qualify.
"We won't know the extent of the damage until claims adjusters can accompany people back to their homes," Ms. Walker said. She said many of the homes located in the affected area are multimillion-dollar structures. "Yes, there are complete losses, but there will be damages to other homes that could render them inhabitable."
The number of homes lost is already the most ever in state history due to a fire, Ms. Walker said. The Hayman Fire in June 2002 burned 133 homes.
The blaze began on Monday, and the cause is still under investigation.
The cost to fight the fire so far has been $2.1 million.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
