Oregon’s tough wildfire season has pushed spending to the point the state Department of Forest is tapping its special insurance policy for the second year in a row.
The Bulletin reported that state wildfire costs exceeded the $20 million deductible last July, and spending is now two-thirds of the way through the $25 million Lloyd’s of London insurance policy.
Department spokesman Rod Nichols says the premium this year doubled to $2 million.
Wildfires have already burned three times the 10-year average in Oregon, and the department expects the upward trend to continue as the changing climate brings more drought, longer burning seasons and higher temperatures.
Topics Catastrophe Natural Disasters Wildfire Excess Surplus Lloyd's Oregon
Was this article valuable?
Here are more articles you may enjoy.
What Analysts Are Saying About the 2026 P/C Insurance Market 
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid 
The $3 Trillion AI Data Center Build-Out Becomes All-Consuming for Debt Markets 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
