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Insurance and wildfires

The article from LAist discusses the growing insurance crisis in California due to increasing wildfire risks. Economist and insurance expert Dave Jones, who previously served as California's insurance commissioner, shares his personal experience of surviving the 2017 Tubbs Fire in Santa Rosa, which destroyed his home. Despite his expertise, Jones faced significant challenges in securing affordable insurance post-fire, highlighting a broader issue where insurance companies are either hiking premiums dramatically or withdrawing from high-risk fire areas altogether. This situation has left many homeowners in a precarious position, with some unable to afford insurance or facing non-renewal of their policies. Jones advocates for reforms in insurance practices, including better risk modeling, more transparent pricing, and government-backed insurance options to ensure that homeowners in fire-prone areas can still obtain coverage. The crisis underscores the urgent need for both immediate solutions and long-term strategies to adapt to the changing climate and its impact on insurance markets.

Read the Full LAist Article at:
[ https://laist.com/brief/news/climate-environment/economist-survived-wildfire-insurance-crisis ]