Wildfires

Insurance companies have abandoned some California neighborhoods at lower risk of burning.

PacifiCorp has been lobbying across multiple states for laws that would effectively cap payouts to fire victims.

The majority of insurance professionals responding to a predictions survey said they are expecting an increase in the frequency and severity of major climate events this year.

California AB 1795, the Smoke Damage Recovery Act, would make home insurance more expensive and push more policyholders onto the state's insurer of last resort, according to an insurance industry attorney.

Insurance commissioner Ricardo Lara, responding on social media, said tariffs and ICE raids are making rebuilding more difficult. Advocates also point to federal disaster relief that has been held back.

Nearly 40,000 acres were burned in the Eaton and Palisades wildfires last January, killing at least 31 people and destroying 16,000 structures.

Digital Insurance contacted insurance professionals to comment on the climate crisis and natural disasters.

Since the 1990s, American homes have been systematically underinsured in the event that they are completely destroyed.

Insurers point to billions of dollars in claims paid, while wildfire survivors advocates say many haven't yet received what they are due.

Edison International Chief Executive Officer Pedro Pizarro said it is likely that the company's utility equipment could be found to be associated with the start of the deadly Eaton Fire.

Hedge funds speculating on wildfire insurance claims in California were just dealt a legal blow.

California governor's executive order tasks insurance regulator and other state agencies to make recommendations on mitigating wildfires, insurance affordability and availability, expediting insurance claims and more.

New law, SB 429, California Wildfire Public Catastrophe Model Act, depends on the state's university system and its resources to check insurers' and regulators' risk modeling.

Five ways technologies and revised processes are helping insurance organizations better predict and protect.

California sellers of older homes in high-risk areas must disclose to potential buyers not only a dwelling's susceptibility to fire but what they've done to address those vulnerabilities.

Digital Insurance stories related to insurance regulation.

More than six months after the LA catastrophe, officials have yet to complete regulations as wildfires burn across the state this week

California's insurance regulator and a consumer advocacy group continue battles over the funding of the state's home insurer of last resort, and other issues.

Damage claims from the Eaton wildfire could wipe out the $21 billion fund created to protect utilities and their customers when an investor-owned utility's equipment is deemed responsible.

An academic paper presented at the Brookings Institute's annual conference found that future wildfire risks are already having economically significant impacts on financial markets, municipal borrowing costs and vulnerable communities.