The Idaho Department of Insurance has issued a mandatory data call to insurance providers offering wildfire coverage for homes and other dwellings in the state. The department is seeking detailed policy and claims information to analyze the property insurance market in Idaho, particularly as it relates to wildfire risks. This move comes as the state faces challenges in the insurance market, with several insurers non-renewing policies due to wildfire concerns.
Background and Purpose
The data call, detailed in Bulletin No. 25-02, aims to enhance the department’s understanding of the insurance market’s dynamics, including affordability, availability, and insurer exposures. This information will enable the department to fulfill its statutory obligations to regulate the insurance industry and protect consumers. Idaho Department of Insurance director Dean Cameron stated that the data collected will help the department address the hardening personal property market and encourage insurance carriers to remain in the state.
Key Statistics and Trends
In 2023, Idaho had 91 property insurers operating in the state. However, between 22 to 25 of these companies have since non-renewed some or all of their policies, partly due to wildfire concerns. This has left some homeowners without property insurance, prompting consumer concerns. The department regularly receives inquiries from consumers about their coverage, and this data call is expected to provide insights into how best to address these issues.
Data Requested
The data call requests Idaho-specific information from insurance providers, including exposures, premiums, claims, and related data from 2018 through 2024. Insurers are also required to report claims data as of March 31, 2025. The completed data submissions are due by May 20, 2025. The analysis of this data is expected to inform the department’s efforts to ensure that Idaho residents can secure necessary coverage to protect their homes and financial well-being while maintaining a healthy insurance market for insurers.
Recent Wildfire Activity
The 2024 peak wildfire season in Idaho was particularly active, starting earlier and ending later than usual, and had a significant impact on various communities across the state. The Idaho Department of Insurance’s data call is a response to these challenges, aiming to create a more stable and consumer-friendly insurance market.
