December 3, 2024
Phoenix, AZ – Arizona Department of Insurance and Financial Institutions (DIFI) Director Barbara D. Richardson has established the Resiliency and Mitigation Council (Council) to investigate the availability and affordability of personal homeowners insurance in forested areas and wildland-urban interface (WUI) areas of Arizona.
The Department is aware of the difficulties that Arizona homeowners in these areas face in finding coverage for their homes, and that they are increasingly turning to local, state, and national leaders to address the issue. Working through the Council, DIFI’s goal is to draft a report of the Council’s findings by the end of next year to equip state policymakers with the information they need to implement solutions, including risk mitigation strategies, to address the availability and affordability of homeowners insurance in wildfire-prone areas of the state.
While the Council’s efforts will focus on mitigating the risk of losses in forested and WUI areas, its work will benefit all Arizona homeowners. By reducing the total amount of risk that is spread among all policyholders in the state, homeowners insurance premiums may begin to stabilize.
The Council will be composed of the following representatives from cities, towns, and counties, firefighting authorities, the insurance industry, and federally recognized tribal nations within Arizona:
- Director Barbara D. Richardson, DIFI
- Director Thomas A. Torres, Arizona Department of Forestry and Fire Management
- Tom Savage, League of Arizona Cities and Towns
- Terri Edwards, Independent Insurance Agents and Brokers of Arizona
- Chief Jake Rhoades, Arizona Fire Chiefs Association
- Chief Randy Chevalier, Arizona Fire District Association
- Carmine DeBonis, Jr., Pima County
- Jacob Emnett, County Supervisors Association of Arizona
- Laura Curtis, American Property and Casualty Insurance Association
- Michael Newman, Insurance Institute for Business and Home Safety
- Vacant, Inter Tribal Council of Arizona
- Vacant, Navajo Nation
“I am optimistic that the Council’s work will provide an important resource for policymakers at the state and local level to begin addressing the risk of wildfire across the state,” said Director Richardson. “We understand that high insurance premiums are a financial burden for Arizona homeowners and an unfortunate symptom of the heightened risk from wildfires. The ultimate goal is to save people’s homes and make our communities more resilient to fires.”
The Council’s inaugural meeting is scheduled for December 11th at 1:00 P.M., with both in-person and virtual attendance options. Interested parties and members of the public are encouraged to attend.
Source: Department of Insurance and Financial Institutions
https://difi.az.gov/announcementnews/arizona-department-insurance-and-financial-institutions-establishes-resiliency-and
