Hawaii lawmakers this week passed a bill intended to help shore up Hawaiian Electric Co.’s credit rating despite strong opposition from House and Senate committee chairs who helped vet the measure. The bill would impose a new fee on HECO customers to help pay for investments needed to protect the public from wildfires. But that’s … Read more
PG&E Corp. missed first-quarter profit estimates on Thursday, as the power company was hurt by higher operating and interest expenses. Higher-for-longer interest rates push up borrowing costs for utility companies, which typically need more capital for expenses such as maintaining the grid. Related: Lawsuits Accuse Insurers of Colluding to Drop Coverage in Fire-Prone Parts of … Read more
As promised, Washington’s Division of Occupational Safety and Health (DOSH) updated its rules for protecting employees from wildfire smoke, incorporating changes the federal Environmental Protection Agency (EPA) made to its color-coded Air Quality Index (AQI) in May 2024. As we previously reported, when the EPA published its … Read more
As wildfires and droughts intensify across the globe, the insurance industry is searching for ways to close the growing protection gap. With traditional insurance struggling to keep pace with the escalating frequency and severity of climate-driven disasters, parametric insurance is emerging as a powerful tool, but its effectiveness relies on accurate data.To address this challenge, … Read more
The ILS Advisers Fund Index has reported a +0.17% return for February 2025, but the company has highlighted a second consecutive month where there was a broad dispersion between ILS fund returns and performance, as effects from losses due to the California wildfires continued to flow through the market.In addition to the wildfire related negative … Read more