Insurance Underwriting Challenges due to Wildfire

August 25, 2023 Emergency Management

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Many communities across the Western United States are seeing insurance carriers decided not to issue new polices or renewals, or in some cases charging significant premium increases. Several large carriers have recently made national news by withdrawing coverage from large areas due to wildfire risk. The Gallatin County area is not immune from this activity and is seeing residents face coverage challenges on a more frequent basis. Montana Commissioner of Securities and Insurance Troy Downing recently issued the following advisory.