PPIB Insurance’s Post

Interesting article about new excess wildfire coverage coverage program for HNW homeowners in California. Shout out to my former HUB colleagues! 👍👍

🔥 The first five feet surrounding your home pose significant wildfire risks.🧯 While you might not face direct flames, airborne embers could land near your doorstep. If strong winds carry these embers from miles away, your property risks ignition if it isn't ready for the fallout. This immediate perimeter often goes overlooked. Take a moment today to carefully examine and clear any flammable items from this zone. Stay vigilant and be ready for any potential threat! #wildfireprevention #wildfire #riskmanagement #insuranceagent #insurance #insurancebrokers #riskprevention Private Risk Management Association (PRMA) California Fire Safe Council Seth Schalet Michael Thayer, CWMS Jacqueline Rivera April Schwartz Grant Staking Insurance Institute for Business & Home Safety - IBHS Insurance Insider Rhiannon Jay (RJ) Kurt Thoennessen, CAPI Heather Posner, CPRIA Bill Gatewood

The 2024 wildfire season has been devastating, with over 2 million acres burned in the US alone. For P&C insurance experts, understanding these fires is crucial for future predictions and claims preparation. WaterStreet Company's P&C Insurance Solutions provide the data you need to stay ahead. Discover how our solutions can help insurers adapt to climate change risks and improve underwriting practices. Read our latest blog post for insights on this year's wildfires and strategies for better risk management. #Insurance #Wildfires #ClimateChange #RiskManagement #P&CInsurance #WaterStreetCompany https://hubs.li/Q02Ktfqq0

With hot, dry conditions prevailing across the western US, July has seen a number of wildfires erupt, echoing the predictions made in ZestyAI's Wildfire Season Overview, released earlier this year. Our Z-FIRE analysis reveals that 100% of properties within the wildfire zones were at “Very High” risk. This information is crucial for insurance carriers and property owners to implement appropriate mitigation strategies. Read more in our wildfire season update: https://bit.ly/4f3eDxj #wildfire #insurance #mitigation #riskintelligence

We are delighted to share that we are featured in InsTech’s report, “Beyond the Smoke: Understanding and Mitigating Wildfire Risk.” 🔗Download now: https://lnkd.in/gGZBrUnZ #Wildfires are growing in severity and intensity. Since 2013, they have cost the #insurance industry over $70 billion. But wildfire has traditionally been thought of as a 'secondary #peril'—is it due to a promotion to ‘primary peril’? This report reviews how wildfire #risk has changed over the years and what has been happening within insurance and #riskmanagement #insuranceindustry #insurtech #insurtechinsights #wildfireprevention  #wildfires  #riskmitigation #riskassessment

Wildfire Plan & Protection Guide from Northbridge Insurance offers invaluable insights for businesses seeking to fortify their defenses against the growing threat of wildfires. As our summers have been increasingly hot and wildfires grow, here are some ideas to help your business; From proactive building design to strategic planning and response strategies, this guide offers practical steps to minimize the impact of wildfires on your operations and assets. It includes topics such as fuel reduction zones, evacuation protocols, and post-fire recovery measures, this resource serves as a comprehensive handbook for businesses navigating the complex challenges posed by wildfire risk. Whether you're a business owner in a wildfire-prone area or a risk management professional seeking actionable strategies, this guide provides indispensable information to enhance your preparedness and resilience. With expert advice on everything from building resilience to navigating insurance claims. Arm yourself with the knowledge and strategies needed to protect your business from wildfires and reach out if you have any questions during this time. #WildfirePreparedness #BusinessResilience #RiskManagement https://lnkd.in/gmzeb4VA

As wildfire risk continues to expand, insurance alone may not be enough to protect properties. Munich Re Specialty’s Rachael Dougherty highlights the need for insureds to invest in risk mitigation strategies to safeguard their assets. Check out the recent Insurance Business America article here to learn more: https://ow.ly/Nqpi50SNa0b #MunichReSpecialty #Wildfire #RiskMitigation

"There won’t be lasting relief in Louisiana’s property insurance market without dramatic investments in lowering risks and climate adaptation. "What does that look like? "First, we need to build stronger, including implementing and continuing to improve upon the updated 2021 building codes and increasing the number of homes built to the Fortified building standard. Building strong homes is better for the people in them—keeping them safer and reducing uninsured losses—and improves home values. Importantly, due to the lower risk, Fortified homes can also often obtain lower insurance prices and more firms are willing to offer these homes coverage. "Future losses can also be lowered by land use planning that takes careful consideration of climate risks. Improvements are needed in communication of changing risks to residents and housing market participants as well as expanded knowledge by all stakeholders about safe building. "Louisiana should maintain science-based decision making under the Coastal Master plan and invest in nature-based solutions to protect communities and simultaneously provide an array of ecosystem services. "Insurance markets are currently warning us that communities are becoming uninsurable. Instead of debating measures that weaken consumer protections, let’s focus efforts on creating insurable communities that can thrive in the face of escalating risk." - Carolyn Kousky, Environmental Defense Fund #art #artcollections #artcollectors #museums #privatemuseums #stewardship #climatechange #climaterisk #financialrisk #insurance #riskmitigation