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Insurers are actively trying to get a handle on their wildfire portfolio accumulations and gather perspective on relative risk.
Only about 163,000 acres have burned in California this year, compared to the 632,000 acres scorched in 2018.
PG&E Corp. has cut power to 513,000 customers in the biggest planned blackout yet to keep power lines from sparking more blazes.
The agreement will resolve all insurance subrogation claims arising from the 2017 Northern California wildfires and 2018 Camp Fire.
Once homeowners understand the causes, they'll be more prepared to prevent accidents before they happen.
AM Best's new report maintains a stable outlook for the surplus lines market.
Roughly 8.7 million acres burned in 2018 alone – the sixth-highest total on record, CoreLogic reports.
News from American International Group, TigerRisk Partners LLC, XS Brokers and more.
New data analysis from CoreLogic estimates Hurricane Barry losses to be between $300–600M, excluding NFIP losses.
The financial impact of underinsurance is widespread.
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