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Innovative Strategies by Insurers to Combat Wildfire Risks

share-iconPublished: Friday, January 10 share-iconUpdated: Friday, January 10 comment-icon10 months ago
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BUSINESSINSIDER
Innovative Strategies by Insurers to Combat Wildfire Risks

Credited from: BUSINESSINSIDER

  • Insurance companies are hiring private firms to protect homes before wildfires by applying protective gels and clearing flammable materials.
  • Wildfire Defense Systems, led by CEO David Torgerson, specializes in pre-emptive measures to safeguard structures across 22 states.
  • The firm's pre-suppression techniques involve preparing properties hours or days in advance of anticipated fires.
  • Insurance coverage has been declining in California, with State Farm halting new applications due to wildfire risks.
  • Torgerson highlights the importance of these resources to mitigate economic losses, as wildfires create challenges for the insurance market.

For the full article, visit Business Insider.

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Insurance Wildfires Property protection Wildfire defense California
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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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