As Hawaii deals with the tragic aftermath of recent wildfires that have claimed more than 100 lives and more than 2,000 buildings in Maui, the potential economic fallout is just beginning to take shape. Some experts predict the losses related to the wildfires could result in the biggest disaster-related insurance payout in Hawaii’s history, with property damage alone surpassing $3.2 billion. This post explains the types of losses that usually follow wildfires and the insurance coverages that can respond to such losses. We also offer tips for homeowners and businesses to maximize their insurance recovery in the event of a catastrophic wildfire loss.
Continue Reading Maui Losses Put Wildfire Insurance Risks in Spotlight