Wildfire costs may cause more homeowners in California to lose their insurance
- Homeowners insurance, already expensive in California, is becoming ever more costly and also less available following the wildfires and mudslides of 2017 and 2018, and that doesn’t include the effects of the 2019 Wildfire season which has just started and so far has burned over 198,000 acres, damaged or destroyed 730 structures and caused 3 fatalities. (SOURCE: California Department of Forestry and Fire Protection)
The inflation adjusted wildfire losses from 2010-2018 are greater than the prior forty years combined and the outlook for wildfire incidents is projected to worsen. Click here to read more.
Source: Guy Carpenter The Changing Nature of Risk 2019