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One-of-a-kind Lloyd’s of London wildfire insurance will kick in for Oregon

One-of-a-kind Lloyd’s of London wildfire insurance will kick in for Oregon

Facebook ShareTwitter ShareBy A British insurance marketplace in business since 1871 will pay up to $25 million of costs in under the state’s one-of-a-kind wildfire insurance.The policy with Lloyd’s of London calls for the state to pay the first $50 million in costs, then Lloyd’s pays the next $25 million. Anything above that would be covered by the state, along with federal assistance.According to the Northwest Interagency Coordination Center, a logistical center for regional fires, Oregon has spent over $53 million on firefighting during the current fire season. That would trigger the...

oregonlive.com
Albany Democrat-Herald
Sep 18
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