Nearly a year after the deadliest and costliest wildfire in U.S. history, insurers and the customers they cover are revisiting how to reduce their collective exposure to this risk, according to the Insurance Information Institute (I.I.I.).
“While our research has been in the works for the last year because of California’s catastrophic wildfires in 2017 and 2018, the wildfires we’ve seen in recent weeks makes these findings all too real and timely,” said Sean Kevelighan, CEO, I.I.I. “The increased severity of these wildfires stems in part from too many people residing in harm’s way. Builders and residents need to focus on how to be more resilient, or reconsider altogether whether to place homes in certain areas.”