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:
Taiwan earthquake injuries top 1000, missing hotel workers foundMan who went missing while fishing on boat off Hawke's Bay coast namedUnused Auckland surgical centre could be treating more than 15,000 patients a yearBlaze at abandoned building in WellingtonNew Auckland surgical building cannot open due to lack of staffGolriz Ghahraman's law career at risk if convicted, professor saysThe Week in Politics: Coalition negotiations could be near the endgameThe tall man in a van taking the plunge around AotearoaIwi Chairs Forum reps pull out of antiIran vows revenge on Israel after Damascus embassy attack
2.1131s , 6503.4140625 kb
Copyright © 2024 Powered by Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing ,Culture Currents news portal