Only 8% of the total losses from one of Colorado's most destructive wildfires have sufficient insurance coverage, according to state regulators.

The latest P&C industry personnel news from Betterview, Goosehead Insurance, Breckenridge Insurance and more.

Despite their ruling, the Colorado Court of Appeals added that "this case may present an opportunity for our supreme court to provide clarity on this question."

Many executives are unfamiliar with this safety net for both buyers and sellers.