i_wmrc_2017a_2017-09-08t09:34:10z5 Hearing Summary
Date: 09/08/2017
Location: SCR 357
Insurance
WILDFIRE MATTERS REVIEW COMMITTEE
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01:21 PM
The committee returned from recess.
01:21 PM -- Insurance
Kelly Campbell, Property and Casualty Insurance Association of America, discussed the risks to property owners and the response from the insurance industry. She discussed the insured losses in past wildfires.
Carole Walker, Rocky Mountain Insurance Information Association, discussed how wildfire is a manageable risk. She discussed the insurance requirements for homeowners living in the wildland-urban interface. Ms. Walker talked about testing done by the insurance industry to determine best practices.
01:32 PM
Ms. Campbell answered a question from the committee regarding significant premium increases in the wildland-urban interface. Ms. Walker discussed the rating of individual risk for homeowners.
The committee discussed current issues related to homeowner insurance.
Ms. Walker discussed their partnership with realtor associations.