California wildfires ignite an insurance crisis

In summary

California’s never-ending wildfires have ignited an insurance crisis that demands bold new thinking.

As if California needed another crisis, the state’s seemingly perpetual wildfires are forcing millions of homeowners in fire-prone areas to pay skyrocketing premiums for insurance coverage — if, indeed, they can buy it at all.

As the number and severity of wildfires increase, insurers are increasingly reluctant to renew policies and even if they do, premiums often double or triple.

Insurance is required for most homeowners since their mortgage lenders demand it. And if they cannot obtain regular coverage, they are forced into the insurer

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Longtime Vancouver business Biggs Insurance sold to California company

Biggs Insurance Services, a three-generation, family-owned insurance company in downtown Vancouver, was sold to California-based Alliant Insurance on Wednesday.

Rich Biggs, former majority shareholder and CEO, said that the company will look and feel relatively similar after the buyout. Nearly all the staff is staying in the same building, the name Biggs Insurance will continue and Biggs, 55, will stay on as the local branch’s leader in a role as senior vice president at Alliant.

“We’re still Biggs, we’re still part of the community, we’re just enhancing our capabilities with a national platform to operate from,” he said.

Alliant, based

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