Damages and insurance losses from those events are still being tallied, Swiss Re said.
Winter said that it is “imperative” to act immediately in preparing communities for the “physical and financial risks of future climate-related weather events.” Symons said he is like most residents in Perrytown in that he is still arguing with insurance companies. Some residents have sought his assistance as mayor.One lesson Symons has learned from the ordeal is the importance of an annual accounting for the cost of what is inside a building and what it would cost to rebuild. One of his buildings, a furniture store, was acquired recently so the valuation was easy. Another building that he has owned for 20 years has proved more difficult.
State Farm and Allstate have pulled back from California’s home insurance market, saying that increasing wildfire risk and soaring construction costs mean they’ll no longer write new policies in the nation’s most populous state.