Recent wildfires in California have caused record-breaking losses that are likely to increase in the future due to the impacts of climate change. More than three times as many acres have burned to date in 2021 compared to the same period in the record-breaking previous year, with drought, extreme heat, and reduced snowpack contributing to the severity of the fires.
This panel focuses on the important roles of homeowners, communities, and insurance to curtail damages from future wildfires.
• Rex Frazier, President, Personal Insurance Federation of California. Rex represents PIFC’s member companies before the California State government and provides advice on legislative, regulatory, litigation and political matters.
• Robert A. Reader, Managing Director, Guy Carpenter & Company, LLC. Rob specializes in the placement of property and casualty reinsurance lines, especially wildfire.
• Michael Wara, Director, Climate and Energy Policy Program, and Senior Research Scholar, Woods Institute for the Environment, Stanford University. Michael assists policymakers engaged in the development of novel climate and energy law and regulation.
• Roy E. Wright, President & Chief Executive Officer, Insurance Institute for Business & Home Safety. Roy leads a team of scientists and risk communicators who deliver strategies to build safer and stronger homes and businesses.
• Michael Young, Vice President, Model Product Management, Risk Management Solutions (RMS). Michael leads a team that establishes requirements and features for RMS climate models.
• Moderator: Howard Kunreuther, James G. Dinan Professor Emeritus; Wharton Risk Management and Decision Processes Center, University of Pennsylvania