In the same way that a blaze can swallow everything in its path, a wildfire event can have a profound effect on the local insurance market.
Consider that the most serious fire emergencies result in both residential and commercial property-insurance claims, business interruption claims, and health insurance and workers' compensation claims.
However, given time to study a fire's cause, course and impact, the event can have positive outcomes that go beyond the regeneration of local flora and fauna. Large-scale loss events such as the historic fires listed above can prompt local municipalities to enact stricter building codes, spur property owners to build more resilient facilities, and catalyze fresh tech to detect and mitigate destructive blazes in the future.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
