Excessively hot temperatures in recent days have created favorable conditions for the growth of numerous ongoing fires in the western United States as well as the ignition and spread of several new fires. A cold front has begun to bring cooler temperatures and precipitation in the form of both rain and snow to parts of the Mountain West but is also increasing wind speeds ... Continue Reading »
Wildfire
Weather Sentinel: Significant Wildfire Potential Outlook; June 2020
With fires already burning in Florida and the Southwest, seasonal dryness and heat are beginning to cure fuels in the western US. Portions of the Rockies, Southwest, and Northern California have experienced large precipitation deficits over winter, and significant wildfire potential is above normal. ... Continue Reading »
California Wildfire Fund: Protecting our Planet and the Public Purse
Following the devastating wildfires that raged across California in 2017 and 2018, the state’s legislature and governor took steps to fund mitigation efforts and provide post-disaster relief to affected homeowners. Guy Carpenter's Protecting our Planet and the Public Purse report takes a look at how public-private partnerships such as the California Wildfire Fund can aid these e ... Continue Reading »
Wildfire: Protecting our Planet and the Public Purse
Wildfire is another peril likely to be impacted by climate change, according to Guy Carpenter's Protecting our Planet and the Public Purse report. Data from recent years shows that fire seasons have lengthened and modeling studies predict significant increases in fire activity in high-risk areas. ... Continue Reading »
Modeling Insights
Here we review recent GC Capital Ideas posts covering insights on modeling. ... Continue Reading »
Wildfire Risk and Underwriting Strategy
In 2018, California suffered its most costly and deadly fire season to date. The year’s costliest insured loss event was California’s Camp Fire at USD 12 billion — also the most destructive fire in the state’s history. Additionally in 2018, over 100 people perished in wildfires in Greece; British Columbia, Canada, suffered its worst wildfire season in history; in Australia, bush ... Continue Reading »
CAT-i Report: Australia Bushfires – January 8, 2020
Bushfire activity in the last few months has rendered significant impacts to portions of Australia, and especially so in recent weeks with severe impacts reported in New South Wales. The bushfire activity has caused devastating impacts to human life, property, infrastructure, and wildlife. Extreme fire weather conditions across the country together with record heat and drought ... Continue Reading »
Review of Climate Change Risks on GC Capital Ideas
Here we highlight the recent stories that GC Capital Ideas has presented on managing risks associated with climate change. ... Continue Reading »
The Burning Issue: Managing Wildfire Risk
In recent years, countries such as Canada, the United States, Spain, Portugal, Greece and Chile have experienced unusually severe fires, claiming hundreds of lives and causing billions of dollars in damage. Wildfires have also broken out in countries previously unaccustomed to the problem. In 2018, for example, northern European countries experienced between 20 and 200 times ... Continue Reading »
Weather Sentinel: Continued Extreme Fire Weather in California
Diminished winds on Tuesday allowed for increased containment and limited growth of many fires currently burning in California including the Getty Fire in Los Angeles and the Kincade Fire in Sonoma County. Fire weather conditions are expected to worsen starting Wednesday morning as a near record strength Santa Ana wind event is expected to impact southern California through ... Continue Reading »
