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Instant Insights / Wildfires & their destruction

Deadly and destructive wildfires have destroyed or damaged thousands of homes and businesses across the globe, and have caused billions of dollars in insured losses in recent years.

California says wildfires are making home insurance unaffordable

More frequent and intense wildfires are making it harder for homeowners to find and keep insurance in California, a state regulator warned Thursday.

By Christopher Flavelle | Updated on January 04, 2018

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(Bloomberg) – More frequent and intense wildfires are making it harder for homeowners to find and keep insurance in California, a state regulator warned Thursday.

“The problem of insurance availability is going to expand” after last year’s record-breaking wildfires, California Insurance Commissioner Dave Jones said in an interview Thursday. He said growing rates of non-renewal and rate increases for people in wildfire zones are “entering a critical stage.”

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