Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Timber industry losses from Hurricane Helene expose insurance gaps, witnesses say
Summary
Timber owners and independent agents told a House study panel that Hurricane Helene caused more than $1.28 billion in timber damage and that viable private timber insurance products are effectively unavailable, leaving landowners to rely on state aid and market salvage.
Will Wilson, an insurance principal with Oakbridge Insurance and chair of a commercial-lines committee for the Independent Insurance Agents of Georgia, told the House study group that Hurricane Helene produced massive timber damage and that the open insurance market currently offers little commercial timber coverage.
“...there was over $1,280,000,000 worth of impact that hurricane Helene caused in the timber business,” Wilson said, summarizing a damage assessment conducted with the University of Georgia and the Georgia Forestry Commission. He cited UGA/GFC figures of roughly 8.9 million acres affected and tens…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
