forest fire

Insurance and reinsurance broking firm Aon has structured and placed the first and largest parametric forest fire insurance policy ever undertaken in Brazil, developed for stationery manufacturer Faber-Castell.

The Caldor Fire in California’s Eldorado County exploded yesterday, with extreme wildfire behaviour seen to drive the fire’s burn area up by more than 360% to 30,000 acres, while a number of northern California towns saw structure loss that has yet to be counted.

The Dixie wildfire that is burning in California has now burned almost half a million acres and continues to put significant property value at-risk, with now 1,027 structures reported as having been destroyed by the fire.

Global reinsurance broker Guy Carpenter has estimated that, based on preliminary data, insurance industry losses from U.S. wildfire activity in 2015 are likely to reach and may even exceed $1.75 billion.

Insurance industry losses from wildfires in California have hit $1.15 billion in September, with economic losses above $2 billion, and the figure will rise as the season peaks, according to analysis from reinsurance broker Aon Benfield’s Impact Forecasting unit.

This summers extreme heatwave in Russia which resulted in widespread fires and a serious drought across much of the country has caused considerable losses for individuals and the public/private sectors. Drought destroyed 17% of the available crop area in Russia and the fires spread over 200,000 hectares causing widespread damage and loss of homes and […]