Addressing today’s emerging risks.
As the number of homes in the U.S. exposed to the risk of wildfire increases, it is proving MORE difficult to depend on traditional insurance coverage. GJS Re has developed a solution that makes coverage available for all members of a
Homeowners’ Association (HOA). The WILDFIRE HOA CAPTIVE PROGRAM was created to address the on-going wildfire insurance challenge throughout the U.S. Give us a call!
Background
In an environment driven by a changing climate, more homes are being exposed to wildfire than ever before, not just those built in the wildland-urban interface (WUI). Severe wildfires have occurred around the U.S. resulting in the loss of life and causing billions of dollars in losses, both insured and uninsured.
Due to this increasing exposure, more and more homeowners are learning that their insurance policies are either being non-renewed or that the premium is being increased exponentially. In some cases, the insurer has ceased writing homeowner risks altogether and in others, those insurers have stopped writing new business. No matter the case, the lack of availability of coverage for homeowners led GJS Re to search for a solution – a community approach, where all members of a community must cooperate in a plan to protect their community and their homes.
Solution
Working with specialty companies with unparalleled expertise in wildfire assessment & mitigation, financial analysis & CAT modeling, and captive management & regulatory capabilities, GJS Re has constructed a solution for HOAs that solves the wildfire availability challenge. Although details of the WILDFIRE HOA CAPTIVE PROGRAM are too extensive to summarize here, please give us a call and we will be more than happy to review this new approach GJS Re has developed to protect members of HOAs exposed to wildfire.
The below articles in USA Today and Insurance Journal highlight the GJS Re solution for Wildfire Exposed Communities throughout the Western U.S:
