A new report warns that wildfire losses are outpacing current risk-management systems, urging a coordinated national effort to move technologies from pilot to scale.
One of California’s largest electric utilities is warning that the state can no longer treat its customers and shareholders as the default catastrophe insurers, as new legislation radically reshapes how wildfire liability is financed and distributed across the economy.
SB 429 heads to Governor's desk and would create the nation's first public wildfire risk assessment tool.
Burned areas are expanding in key areas around the globe.
Lack of liability cover was adding fuel to the state’s wildfire problems.
The struggling utility says it wants an alternative to “high-cost wildfire liability” polices being offered insurers and reinsurers.
Progressive consumer groups are already pushing back on catastrophe model recommendations.
