PAGE 4 PROTECTING YOUR PROPERTY ® 512.328.1851 | benekeai.com Sheila E. Salvatore, Editor | Editor@AdjustersInternational.com Copyright © 2020 Adjusters International, Ltd. All Rights Reserved. E15-1022 Insights for Your Industry® is published as a public service by Adjusters International, Ltd. It is provided for general information and is not intended to replace professional insurance, legal and/or financial advice for specific cases. Wildfire: A Fearsome but Manageable Peril Continued In contrast, there is no reason why a flood, tornado, hurricane, or earthquake will not reoccur in the same location at any time. Indeed, we actually expect earthquakes and their aftershocks to reoccur in the same location. By creating a “clean slate,” albeit in blackened ash, wildfires allow us to rebuild better and smarter, to the point of almost guaranteeing that the loss will not be suffered again. That should be reassuring to property owners, if they and their neighbors act wisely. About the Author Mr. Harrington is an independent insurance writer and communications specialist. He served for over 20 years as communications director for the American Association of Insurance Services (AAIS). His work has been published in Best’s Review, Rough Notes, publications of The Institutes, and elsewhere. ____________________ 1 Jocelyn Gecker and Suman Naishadham, “Record-breaking California wildfires surpass 4 million acres.” Associated Press, Oct. 4, 2020 2 Moody’s Investor Service, P&C insurers face significant losses from Western wildfire, Sept. 16, 2020 3 Amanda Cochran, “By the numbers: Report details Hurricane Harvey’s massive punch,” KSAT.com, Jan. 25, 2018 4 Sarah Gibbens, “Hurricane Sandy, explained,” National Geographic, Feb. 11, 2019 5 Allianz, Future Fires: Weathering the Storm, Wildfire Report 2020, May 2020, p. 4 6 Ibid., p. 2 7 Verisk Analytics, Wildfire Risk Insight: Analysis of property exposure and wildfire damage in 2019, May 2020, p. 2 8 Howard Kunreuther and Erin St. Peter, What Are the Most Effective Ways to Insure and Mitigate Wildfire Risks,” at https://knowledge.wharton.edu/article/effective-ways-insure-mitigate-wildfire-risks/ 9 Jim Sams, “Zesty.ai Refines Fire Risk Model by Adding IBHS Data on Building Materials,” Claims Journal, May 18, 2020 10 See Lyle Adriano, “PURE Programs launches high wildfire risk insurance program,” Insurance Business America, Nov. 13, 2019; see also Avi Asher-Schapiro, “’Cadillac insurance’? Hunt for private firefighters as California burns,”Thomson Reuters, Aug. 28, 2020 11 See https://www.nwsa.us/about-us/our-history/
RkJQdWJsaXNoZXIy NjIxNjMz