Parametric Solution For Wildfire Risk (Insurance Thought Leadership)

Parametric Solution For Wildfire Risk

  Wednesday, June 5th, 2019 Source: Insurance Thought Leadership

Last year saw some of the deadliest and costliest wildfires in California history. With the long-term impacts of the Camp and Woolsley fires still being felt months later, many in California are already thinking ahead and considering how best to prepare for future wildfire seasons.

The problem is only going to get worse due to climate change: The total area exposed to wildfires is increasing, and the wildfire season continues to grow longer.

Recognizing this new reality, the California Senate recently passed a bill that would authorize the state to purchase insurance to mitigate the costs associated with natural disasters such as wildfires.

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