California’s Coming Wildfire Season Points to Potential Non-Renewals Ahead for Homeowners
By all accounts the California wildfire season continues to shape up to be a bad one, and another catastrophe modeling firm has reported sales of their products picking up due in part to carriers and reinsurers looking for more ways to reduce risks – one of which may be to non-renew homeowners in the highest risk areas.
The state’s wildfire season, which continues to start earlier each year – the state’s seasons have been averaging an extra 75 days, according to CalFire – may already be off to an ominous start. The ongoing Lava Fire in Northern California has burned more than 25,000 acres, while containment has grown to more than 71%. The Tennant Fire also in Northern California is 10,614 acres and is 57% contained.
Grim California Wildfire Outlook Has Insurers Forking Over Big Bucks for Modeling
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LL Surplus Lines Series (Entry 32): Illinois Legislature Eliminates the Diligent Search Effort for Certain Commercial Transactions and Provides Clarity With Respect to Group Policies | Locke Lord LLP
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