Triple-I Moderating Nov. 10 Panel on Impact of California’s Wildfires

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For immediate releaseNew York Press Office: Michael Barry, Insurance Information Institute (Triple-I), 917-923-8245, michaelb@iii.org

 

SAN FRANCISCO, Calif., Nov. 9, 2021—Janet Ruiz, Director, Strategic Communication, at the Insurance Information Institute (Triple-I), is moderating on Wednesday, Nov. 10, at 11 a.m., PT, a panel discussion on the economic impact of California’s wildfires dating back to 2017.The Bay Area Council Economic Institute is hosting the one-hour panel discussion and will release tomorrow (Nov. 10) its latest report on the issue, The True Cost of Wildfires: Analyzing the Impact of Wildfires on the California Economy.“As wildfire seasons have become more severe in recent years, the effects of the fires and the smoke they produce has also spread to healthcare, the job market, and tourism,” said Jeff Bellisario, Executive Director, Bay Area Council Economic Institute. “This report highlights those significant economic costs and charts a course for the state and local governments to better prepare for future wildfire seasons, limit damages from catastrophic fires, and restore communities that have been impacted.”  The Bay Area Air Quality Management District and CSAA Insurance Group, a AAA insurer, are the event’s sponsors. There is no charge either to register for the webinar or to download the report after it has been posted. The panel discussion’s four panelists, in alphabetical order, are:

·    Laurna Castillo, Senior Vice President, State Product Management, CSAA Insurance Group

·    Mark Heine, Fire Chief, Sonoma County, Calif. Fire District

·    Jessica Morse, Deputy Secretary, Forest and Wildland Resilience, California Natural Resources Agency

·    John Watts, Senior Counselor, Office of U.S. Senator Dianne Feinstein (D-Calif.)

The Triple-I’s Resilience Accelerator demonstrates the power of insurance to mitigate against wildfire risks. It links to HazardHub, which assesses the wildfire risks individual properties face.Damage caused by fire and smoke is covered under standard homeowners and renters insurance policies. A standard homeowners insurance policy covers wildfire-caused property damage to a home’s structure and its outbuildings (e.g., garage) as well as the personal belongings housed on the premises. A renter’s insurance policy covers the renter’s personal belongings. Water damage caused by firefighters extinguishing a fire is covered under both homeowners and renters insurance policies.Standard homeowners and renters insurance policies also provide additional living expenses (ALE), sometimes referred to as Loss of Use, to policyholders who either relocated because of a mandatory evacuation order or had their residence rendered uninhabitable due to wildfire-caused property damage.

RELATED LINKS:Articles: Wildfires: Insurance and Recovery Resources, Facts About WildfiresFacts & Statistics: WildfiresVideo: Wildfire Reality Check: Tips for Insuring Your Home

The Triple-I has a full library of educational videos on its YouTube Channel. Information about Triple-I mobile apps can be found here.

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