Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance topic
No spam. Unsubscribe anytime.
Fire chief raises alarm about homeowner insurance cancellations; proposes property-level risk maps
Summary
Chief Matt Peterson briefed the board on rising homeowner insurance cancellations and large rate increases tied to perceived wildfire risk; he proposed using Nevada Division of Forestry property-level maps to show localized risk to insurers and homeowners.
Chief Matt Peterson delivered an informational update on insurance issues affecting Elko County homeowners, telling the board that some policies have been canceled or steeply increased because insurers are treating large areas as uniformly high risk.
Peterson gave local examples: "We had 1 policy here in Elko County that went from about $3,000 a month to over $12,000 or not a month, a year, sorry," and said some carriers are now unable to underwrite homes "just because of where they're located." He proposed using property-level mapping tools from the Nevada Division of Forestry to present more granular risk assessments to insurance companies and homeowners, arguing that statewide or county-wide maps can incorrectly classify low-risk properties. Board members agreed that county-level maps and local assessments can help insurers make more nuanced underwriting decisions and urged staff to make county mapping accessible to homeowners and insurers.
The item was informational and no vote was taken. Commissioners encouraged staff to compile and present local assessment maps and community-specific priorities for fuel-reduction and mitigation so insurers can see on-the-ground differences across neighborhoods.
