RMS estimates insured losses from the record-breaking western U.S. wildfires this season will be between $7 and $13 billion. These losses reflect estimates as of Dec. 1. The ignition of the highly damaging Glass Fire and additional spread of the …
Correction: In an earlier version of this story, the Associated Press misspelled the last name of Orange County Fire Authority Chief Brian Fennessy. Facing extreme wildfire conditions this week that included hurricane-level winds, the main utility in Northern California cut …
For most of the 20th century, the insurance industry considered wildfires to be little more than a benign nuisance. They occurred frequently but rarely resulted in more than a handful of claims, and underwriters priced for them in the same …
Premium data from all surplus lines stamping offices for 2019 shows that California once again led the nation in total surplus line premiums, possibly boosted by construction spending and wildfires. The Surplus Line Association of California recorded $9.09 billion in …
In a state burdened by billions of dollars in wildfire damage, California lawmakers are hoping for an advance loan before the next climate-fueled catastrophe hits. Lawmakers in the Democratic-dominated state Legislature returned to work Monday for the second year of …
S&P Global Ratings expects both the primary insurers and reinsurers to be able to absorb losses from the California wildfires, limiting them to an earnings event. However, the mounting bills from more frequents large wildfires in the state against a …
