Will wildfire insurance loss mean the end of Californian wineries?

Wildfire insurance - California winery in Sonoma

Many locations in California are afraid that this fire season will prove to be the last they survive. Wildfire insurance has become an increasingly critical coverage for wineries in California, but many local labels are concerned that they won’t be able to obtain it in future years. Not only are premiums rapidly rising for many wineries, but for many, it is becoming unavailable. Newfound Wines owner Mat Naumann said that while he had been expecting his small Placerville (El Dorado County) vineyard and winery’s wildfire insurance premiums to rise again…

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Mercury Insurance seeks to dispel California wildfire myths

Wildfire Myths - forest fire

The season is lining up to be a record breaking one and the insurer hopes residents will inform themselves. Mercury Insurance has taken to its newsroom and has enlisted the help of expert Douglas Kent in the hopes of helping Californians to dispel some of the most commonly believed wildfire myths. As the blazes are being accepted as a normal part of living in the state, residents need the facts. The first among the wildfire myths that was addressed right away in the insurance company’s recent publication on its site…

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FEMA recommends flood insurance coverage even outside flooding zones

Flood insurance - flooded neighborhood

The Federal Emergency Management Agency says that if it rains, there is also a risk of flooding. The Federal Emergency Management Agency (FEMA) is recommending that home and business owners purchase flood insurance regardless of whether they live in a high-risk zone. FEMA said flooding is the most common and expensive natural disaster in the United States. According to FEMA, flood insurance is not covered under most standard home and business policies. That said, flooding poses the risk of destroying structures and possessions of a home or business in a…

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Mercury homeowners insurance encourages Californians to prepare for fires

Mercury homeowners insurance - house on fire

The 2021 wildfire season is already outpacing that of 2020, which broke historic records. California is suffering a severe drought this year, and Mercury homeowners insurance customers are being urged to take action to ensure their properties and their families are prepared for a rough wildfire season. The California Department of Forestry and Fire Protection shows that wildfires are worse than last year. According to recent California Department of Forestry and Fire Protection (CAL FIRE) data, the drought is contributing to wildfire numbers and acres burned to the point that…

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How Insurance Can Encourage Farmers to Mitigate Climate Change Risks

How Insurance Can Encourage Farmers to Mitigate Climate Change Risks

The sweeping impacts of climate change impact farmers at significant rates. As a result, insurance companies take a hit as well. For example, when nearly 20 million acres of farmland flooded in the American West, it initiated $4 billion in payouts from a federal crop insurance program. Because of disasters like this, farmers are coming around on the importance of mitigating the impacts of climate change to protect their own livelihoods. Insurance companies can help farmers make beneficial sustainability choices by helping those in the agriculture industry understand their impact…

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Central Pacific Hurricane Season has started, so it’s policy review time

Central Pacific Hurricane Season - Approaching storm

Insurance companies in Hawaii are reminding homeowners to ensure they’re covered. The Central Pacific Hurricane Season has begun, and Hawaii insurers are reminding homeowners to make sure they have adequate insurance coverage. The state insurance commissioner has also reminded owners and renters to review their policies. Reviewing a policy at least once per year to ensure that coverages and exclusions are appropriate for covering a homeowners property and possessions is highly recommended. Hawaii Insurance Commissioner Colin Hayashida has reminded state residents of the importance of this annual practice, particularly as…

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California wildfires may need to be a way of life, say insurance officials

California wildfires - forest on fire

After 2020’s record-breaking fire season, officials warn that this may be an ongoing trend. California wildfires caused the destruction of over 10 million acres in 2020 according to a progress report from the U.S. Department of Agriculture outlining the resilience strategy. The progress report’s focus is on efforts to reduce fire fuel through forest thinning strategies. Details from the strategy show that federal efforts will be rising by “two to four times more” than the current levels for reducing destruction from the blazes. This plan was released by the Biden…

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