American Property Casualty Insurance Association
  • Staff Contact: Nicole Mahrt-Ganley     
    • Printer-Friendly Printer-Friendly PDF Export PDF Export

  • FOR RELEASE ON RECEIPT
  • January 28, 2019
  • Insurers Are Fully Prepared to Guide Homeowners Through Recovery Process
  • SACRAMENTO, CA - This statement is in response to new claims numbers announced today by California Insurance Commissioner Ricardo Lara.  This statement can be attributed to Mark Sektnan, vice president for the American Property Casualty Insurance Association.

    “Insurers have been on the ground helping policyholders since the very first day of these historic wildfires.   The Camp and Woolsey wildfires caused unprecedented damage in both Northern and Southern California.  These fires damaged the largest amount of homes and caused the most insured losses in California history, surpassing the $11.8 billion in damage caused in the 2017 wildfires. 

    “Rest assured that insurers are fully prepared to guide policyholders and businesses through the recovery and rebuilding process.  Insurance is the economic safety net that revitalizes neighborhoods and communities after catastrophes such as these. This is what insurance is for.  Policyholders have a lot of options and resources available to them from their insurer.  Insurers will assist policyholders until all claims are settled and these communities are rebuilt.

    “California continues to have a competitive homeowners insurance market.  Given the increasing wildfire risk in California, some insurers must balance their books of business in order to manage solvency and pay future claims.  If a homeowner is nonrenewed they should shop around for coverage.  While some insurers are not writing new business in high risk areas, other carriers are writing new business.”

    Infographic on Top Ten Wildfires in California (prior to 2018 wildfire losses)

     

  • APCIA promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. APCIA is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. APCIA members write $220 billion in annual premium, 37 percent of the nation's property casualty insurance. Member companies write 44 percent of the U.S. automobile insurance market, 30 percent of the homeowners market, 35 percent of the commercial property and liability market and 37 percent of the private workers compensation market.
  • ###