Wildfire
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Record heat, dry conditions and strong winds have helped wildfires spread, Aon said. -
In California, the August Complex in Tehama County has become the largest wildfire in the state’s history.
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In Lane County, Oregon, more than 100 buildings have been lost in a forest fire that local officials warned is likely to have killed residents.
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The figure tops the 2018 high and comes ahead of the peak fire period.
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Subrogation recoveries from 2017-18 Californian wildfire losses drive capital releases.
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Ricardo Lara’s office says it has received “numerous complaints” from policyholders about additional living expense payments being terminated.
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An “excessive heat watch” is in effect for coastal, inland and foothill regions, Cal Fire has warned.
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Cal Fire says the SCU blaze in southern California is also 60% contained.
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Cal Fire says the blaze in central California has been 35% contained.
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The reinsurance broker said mid-year excess capacity was at its lowest point since 2012.
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The ratings agency predicts a potential retreat of certain E&S carriers.
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The ratings agency says lockdown measures could pump up the repair bill.
