Oregon’s tough wildfire season has pushed spending to the point the state Department of Forest is tapping its special insurance policy for the second year in a row.
The Bulletin reported that state wildfire costs exceeded the $20 million deductible last July, and spending is now two-thirds of the way through the $25 million Lloyd’s of London insurance policy.
Department spokesman Rod Nichols says the premium this year doubled to $2 million.
Wildfires have already burned three times the 10-year average in Oregon, and the department expects the upward trend to continue as the changing climate brings more drought, longer burning seasons and higher temperatures.
Topics Catastrophe Natural Disasters Wildfire Excess Surplus Lloyd's Oregon
Was this article valuable?
Here are more articles you may enjoy.
Albertsons Reaches $774 Million Opioid Accord, Records Loss 
Verisk: Insurance Claims Volume Fell to 5-Year Low in 2025 
Here’s a List of Gulf Energy Infrastructure Damaged in Iran War 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
