Utilities, insurers, county commissions, lenders and developers need to be held accountable for building tinder boxes packed so closely together that homeowners can see into each others bathrooms. Counties should be able to fine property owners who fail to create defensible space or clear dry fuels. Well-funded local and volunteer fire departments could conduct prescribed fires and burn road ditches to create buffers where contract fire specialists don’t exist. But even government can't always protect you from your own stupidity.
Co-author of the report Jeremy Porter said it’s not a matter of if, but when the insurance bubble pops. “People have these monthly expectations and if you see a 500, 400% increase in insurance, there are real, quantifiable consequences associated with that,” Porter said. While most people can still obtain insurance in the private market, some property owners in high-risk areas have had to turn to state-mandated insurers of last resort for their coverage. [Wildfire risk is causing an insurance bubble in New Mexico]Learn more at KOB teevee.
About 12 million properties may see premium hikes because of the risk of flooding, nearly 24 million because of potential wind damage, and about 4.4 million because of wildfire risk, per estimates from the First Street Foundation, a climate data nonprofit. https://t.co/Jn8JB3JFqf
— Axios (@axios) October 1, 2023
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