Wildfire frequency has increased over the last decade, leading to higher costs for insuring homes in the western United States. To address this issue, the Nevada Division of Insurance will hold a Town Hall meeting in Incline Village to discuss how wildfires impact homeowners and condominium insurance.
According to the Nevada Division of Insurance, the Town Hall meeting is scheduled for 10 am on June 28. It will take place at the Donald W. Reynolds Community Center on 948 Incline Way in Incline Village.
“The threat of wildfires in Nevada and the West are creating challenges to consumers and communities,” Nevada Insurance Commissioner Scott Kipper said in a press release. “The Division of Insurance is hearing from those impacted and I feel that it is important that consumers have an opportunity to share the impact directly with the agency. Our goal is to not only hear from community members but also to share what the Division is working on and what can be done.”
According to an opinion from the Wall Street Journal editorial board, weather-related events are not entirely to blame for rising insurance costs. The “actual culprit” of these rising costs is a combination of inflation and excessive litigation. “Unscrupulous” trial attorneys file large volumes of homeowners insurance lawsuits, which force insurers to raise their costs for all policyholders.
