BOISE, Idaho (AP) — Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news — their property insurance won’t be renewed because their insurance company has deemed the risk too high. It’s a problem that has played out in states across the U.S. as climate change and increasing development has raised the risks of wildfires and other natural disasters damaging communities. Insurance providers, state regulators and researchers are grappling with how to keep the insurance companies in business while keeping residents and their properties insured and protected. “I think most of the insurers, you know, I’m very grateful that they’re committed to the Hawaii market, so we haven’t seen wholesale withdrawals,” after the Aug. 8, 2023 fire burned through Lahaina and killed 101 people, Hawaii Insurance Commissioner Gordon Ito said during a Wildfire Risk Forum for insurance commissioners held at the National Interagency Fire Center in Boise, Idaho. |
School buildings: Central Auckland school left with no gym for yearsTarget launches new paid membership program in a bid to drive increased salesNext generation will pay the price for critical transport projects, councillor warnsGovernment thinks disabled 'add no value to society'Body removed after violent attack at Auckland sushi shopCoronavirus China: Wuhan lab staff 'had virus symptoms before first confirmed cases'I do one of the world's most dangerous jobsNew Jersey first lady Tammy Murphy suspends run for U.S. SenateWhat to watch: Tales from the LoopThe best and worst airlines for 2024 named by Which?