Idaho Department of Insurance Launches Survey Amid Wildfire Insurance Concerns
The Idaho Department of Insurance has mandated that all property insurance companies operating in the state provide specific data regarding their insurance practices. This move comes as homeowners in areas prone to wildfires face increasing rates and policy cancellations.
The survey aims to gather comprehensive information about the evolving insurance market in Idaho as the state experiences intensifying wildfire seasons. Shannon Hohl, chief of the market oversight bureau, stated, “We know that the market in Idaho is changing. Wildfire seasons have been getting a little more intense, so we want to get this information to see if the data tells us what’s happening to our market.”
The department reported that between 22 and 25 of the 91 property insurance companies operating in Idaho two years ago have not renewed some or all of their policies, partly due to wildfire concerns. The survey will collect detailed metrics from insurers, including premium amounts written and charged to Idaho homeowners, business locations, and zip codes of covered homeowners.
KTVB has documented several cases of affected homeowners. One resident reported having three insurance companies in three months, while another homeowner stated they were dropped without notification.
The collected data may support potential legislative solutions. A previous bill proposing a fund to help Idahoans prepare their homes for wildfire season failed to pass during the last legislative session. Hohl noted that the data could help demonstrate the need for changes.
Insurance companies are required to submit the requested information by May 20. Meanwhile, Hohl encourages Idaho residents with coverage concerns to contact the department’s consumer affairs team.
The survey highlights the challenges faced by homeowners in wildfire-prone areas and the efforts of the Idaho Department of Insurance to address these issues through data collection and potential legislative action.
