TOOLKIT:

UNDERSTANDING INSURANCE

Insurance and wildfires impact everyone. The good news is that your regular homeowners, renters, and business insurance plans typically include coverage for both fire and smoke damage caused by wildfires. However, it is crucial to take preventative measures to lower the risk of falling victim to a wildfire and understand your insurance policy and rights. The first line of defense is conducting structure and community fire mitigations to reduce the chances of home or business loss. While no one can mitigate fire risk entirely, insurance can provide some reassurance; however, it cannot replace priceless family possessions and unique items or your time.

Understanding and reviewing your insurance policy is a critical step to wildfire preparedness and recovery.

INSURANCE LEARNING GROUP

The Insurance Learning Group series is for those who want a better understanding of insurance concerning wildfires and other natural hazards. During this series, a broad range of topics are covered, including how the insurance industry works and the current state of the insurance industry, all with the goal of building a stronger understanding between consumers and providers of insurance and those working in communities.

WEBINAR

Session 1: Series Introduction

Session 1 covered the how and why of the series and included a review of the intentions and goal for the series as well as what resources are already available.

WEBINAR

Session 2: The Ecosystem of Insurance

Guest speaker Kenton Brine from the Northwest Insurance Council provided high level context on several timely topics: the general structure of the insurance industry, how insurers make decisions about coverage and rates, availability and affordability, and upcoming legislative actions in Washington State.

WEBINAR

Session 3: Eco-System for Bending Down Risk in the WUI

Guest speaker Frank Frievalt from the WUI FIRE Institute at Cal Poly explored the decades of research on fire behavior and mitigation practices that are helping to shape the next steps that insurers and communities can take to lessen losses from wildfires. He also helped attendees understand the role of Risk Assessment and Data firms in the insurance industry.

WEBINAR

Session 4: Mitigation Meets the Market

Guest speaker Heather Kanzlemar, Principal and Consulting Actuary at Milliman provides insights on how insurers assess risk, industry views on opportunities and solutions, and the key role of individual and community mitigation. Heather and her team are leading innovative efforts at the intersection of wildfire risk and insurance solutions.

Resource Guide

Learning Series Summary

"Ecosystem" of Wildfire Insurance

There are several types of businesses, organizations, and specific professional roles involved in the provision, support, and management of the wildfire insurance system. This document outlines the primary functions of these entities as well as the ways in which they interact with one another to form the “ecosystem” of wildfire insurance.

TOOLS FOR PREPAREDNESS AND RECOVERY PLANNING

Here are a few resources developed in partnership with the Washington State Office of the Insurance Commissioner (OIC) to integrate into your community wildfire preparedness and recovery planning efforts. These tools provide an overview of:

The role of the OIC in supporting wildfire preparedness and recovery efforts.
How the OIC can help support consumers who can be or have been affected by wildfires.
Options for insurance coverage.
Current trends in the industry.

Please feel free to print and share the following resources with residents in your community.

Demystifying Insurance

resource guide

Demystifying Insurance

webinar

Types of Insurance Coverage

resource guide

Insurance & Wildfire Risk

webinar

Additional Resources