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RAA Discussion Series: Wildfire
Mar 5, 2019 @ 11:00 am - 1:00 pm
Catastrophic wildfires have devastated the state of California in the past two years. While the frequency and scope of destruction might not be the new normal, insurers and reinsurers must still grapple with the magnitude of the claims and the decision to continue to underwrite this risk.
The RAA will present Wildfires as the first of their 2019 Discussion Series, on March 5 in New York, NY. Roy Wright, President and CEO of the Insurance Institute for Business and Home Safety (IBHS) will provide a perspective on the scope of the issue—why it’s happening, contributory factors, and possible solutions, if any, to eliminate the incidence of catastrophic fires—with particular focus on the state of California. With the sheer magnitude of the claims from recent fires, there is also the inherent challenge of underwriting the risk, or the decision to withdraw from that market. Damon Vocke of Duane Morris will address the legal perspective.