30 Aug, 23

Maui Fires: A Lesson For Utility Companies?

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In July, the big insurance companies raised prices roughly 50% on a worldwide basis, a reaction to the huge claims they had to pay recently. Not many people seemed to have noticed, at first. But insurance companies can’t operate without the backstop and off-loading of risk provided by the reinsurance companies. So expect the price of insurance policies to rise if not being canceled altogether. In August, deadly wildfires spread over the Hawaiian island of Maui. More than 100 people died. Did the actions or inactions of the local electric…

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