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:
Wisconsin GOPFilibuster by Missouri Democrats stretches into a second day. What's the fight about?Julia LouisChicago mayor's bumpy first year tests progressive credentials, puzzling some supportersJudge rejects Hunter Biden's bid to delay his June trial on federal gun chargesConnecticut GOP faces potential Aug. 13 primary to choose final candidate to challenge Sen. MurphyFrench veterans Cornet and Gasquet receive French Open wildMississippi man suspected of killing mother, 2 sisters is fatally shot by state troopers in ArizonaMilitary hearing officer deciding whether to recommend courtInternet famous emotional support alligator, Wally, goes missing
2.9208s , 6499.3203125 kb
Copyright © 2024 Powered by Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing ,Global Glean news portal