More extreme wildfires, hurricanes, and other climate-fueled disasters combined with the rising costs of building materials are straining property-insurance providers in California, Colorado, Florida, Louisiana, and Texas — with some companies pulling out of some states altogether.
Both Colorado and California have battled record-breaking blazes and billions of dollars in losses in recent years. Many ofoccurred in the last five years and Colorado's most destructive wildfire was in 2021. That's the case in Florida, where the state-run Citizens Property Insurance Corporation is now the top underwriter as private companies flee the market, said Mark Friedlander, spokesperson for the Insurance Information Institute.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How long influencers say it takes to build a creator business: dataCreators say it takes 5 months on average to earn their first dollar and 18 months to fully support themselves, according to a new survey
Source: BusinessInsider - 🏆 729. / 51 Read more »