State partners with insurance industry to help Oregon homeowners with wildfire prevention
Oregon's State Fire Marshal is collaborating with a nonprofit backed by the insurance industry to help Oregonians protect their homes from burning and keep their premiums from rising.
State Fire Marshal Mariana Ruiz-Temple signed a memorandum of agreement Friday with Roy Wright, CEO of the South Carolina-based Insurance Institute for Business and Home Safety, which oversees the 'Wildfire Prepared' certification program. The program offers homeowners in California, and now Oregon, certificates for undertaking specific wildfire prevention work around their homes.
In turn, insurers could incorporate certification into their calculus for rates and premiums, helping to curb the rising cost of property insurance, which has grown 30% since 2020, according to the state's Department of Consumer and Business Services. For Gov. Tina Kotek, the memorandum is about making sure Oregonians can keep getting property insurance, period.
'What I think is important for us is that we continue to have insurance for our homeowners here, despite the wildfire risk. That's not true in other states,' she said at a news conference Monday. 'We also want the price to come down, but at a minimum we need to have insurance for our homeowners.'
The California Department of Insurance requires insurance companies operating in the state to offer discounts for wildfire mitigation work. The Oregon Legislature hasn't passed similar requirements, but Kotek said that's not necessary yet.
'We still have an insurance market. California is really struggling to maintain insurance coverage. That's not our issue right now,' she said. 'I think by working with the insurance industry and (implementing) best practices for communities, we're going to have a different relationship than they have in California.'
Besides offering certificates for wildfire prevention work, the state and the association will partner on research, educational opportunities for Oregonians around home hardening and defensible space and offering post-wildfire analysis.
Getting certified
The Insurance Institute for Business and Home Safety, an independent nonprofit backed by major insurers including State Farm and Farmers Insurance, offers two different Wildfire Prepared certificates: one for older homes being retrofitted to withstand fire and one for newer homes being built to withstand fires.
The certificates apply only to single-family homes three stories or less, and the person who applies for the certification has to own the home. Townhomes, condos, multiplexes and apartment buildings are not eligible, and the process can't be started by a renter.
The main requirement homeowners must meet is clearing a 5-foot buffer around the home and any deck, leaving no combustible material. That means no trees, overhanging branches, mulch, grass, turf, wood or vinyl fencing can be within 5 feet of a home or deck.
After work is completed, homeowners submit $125 along with an application that includes photos of their work. Inspectors at the Insurance Institute for Business and Home Safety review the photos and, if approved, a third party inspector follows up to visit and confirm the work has been done, or document what more should be done.
Homeowners who are certified must submit photos annually showing they are maintaining their defensible space buffer and they must get recertified every three years.
In a news release, Oregon's Insurance Commissioner Andrew Stolfi said the certification should eventually help Oregonians keep and afford insurance.
'When consumers and the state invest in reducing wildfire risk, insurers — guided by data and science — should reflect that progress in rating and underwriting, helping to keep coverage available and affordable for Oregonians,' he said.
Investment or incentives from the Legislature that might help Oregonians with the costs of home hardening, however, has lagged. In 2021, following the catastrophic 2020 Labor Day Fires, the Legislature allocated more than $30 million to help Oregonians with home hardening. By 2023, the Legislature allocated about 10% of that.
A 2024 grant program from the State Fire Marshal's Office that provided $250 grants to help Oregonians afford defensible space landscaping is no longer available, according to Kassie Keller, an agency spokesperson.
Kotek said helping Oregonians afford to prevent wildfires from burning up their homes is still a priority for her.
'The session's not over yet,' she said. 'I'm going to continue to fight for dedicated dollars, and frankly new dollars, to help have more of these community-based grants to help not only individual homeowners harden and be protected from wildfire, but the whole community.'
SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
AM Best Downgrades Issuer Credit Rating of Tuscarora Wayne Insurance Company and Affiliate; Upgrades Credit Ratings of Lebanon Valley Insurance Company; Revises Outlooks to Positive of Illinois Casualty Company; Withdraws ICR of ICC Holdings, Inc.
OLDWICK, N.J., July 24, 2025--(BUSINESS WIRE)--AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "a" (Excellent) from "a+" (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Tuscarora Wayne Insurance Company and its affiliate, Keystone National Insurance Company. The outlook of the Long-Term ICR has been revised to stable from negative while the FSR is stable. Both companies are collectedly referred to as Tuscarora Wayne Companies and are domiciled in Wyalusing, PA. Concurrently, AM Best has upgraded the FSR to A- (Excellent) from B++ (Good) and the Long-Term ICR to "a-" (Excellent) from "bbb+" (Good) of Lebanon Valley Insurance Company (Lebanon Valley) (Wyalusing, PA). The outlook of these Credit Ratings (ratings) is positive. In addition, AM Best has revised the outlooks to positive from stable and affirmed the FSR of A- (Excellent) and the Long-Term ICR of "a-" (Excellent) of Illinois Casualty Company (ICC). AM Best also has revised the outlook to positive from stable affirmed the Long-Term ICR of "bbb-" (Good) of its intermediate parent, ICC Holdings, Inc. (ICCH). Lastly, AM Best has withdrawn the rating of ICCH as the company requested its withdrawal following ICCH's transition to a privately held entity from a publicly held company. Both companies are domiciled in Rock Island, IL. The ratings of Tuscarora Wayne Companies reflect the group's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate ERM. The downgrade of Tuscarora Wayne Companies' Long Term ICRs reflects operating performance metrics that more closely align with adequately assessed companies within the commercial property composite. The group's very strong balance sheet strength assessment continues to be supported by the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), solid liquidity and generally consistent and favorable loss reserve development, partially offset by dividends to its parent, which has somewhat constrained surplus growth. The neutral business profile continues to focus on underserved commercial business exposures with moderate geographic diversification. AM Best considers Tuscarora Wayne Companies' ERM program to be appropriate for the group's risk profile and includes prudent reinsurance protection and comprehensive risk management. The ratings of Lebanon Valley reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings also reflect rating enhancement via the explicit and implicit support provided as an affiliate of Tuscarora Wayne Companies. The upgrade of Lebanon Valley's ratings reflects its consistent surplus growth, with gains in surplus reported in each of the past 10 years, conservative investment portfolio and low underwriting leverage metrics that compare favorably with the composite average. The strong balance sheet strength assessment is underpinned by the strongest levels of risk-adjusted capitalization, as measured by BCAR. The adequate operating performance reflects the consistent performance of the company with net income in each of the past 10 years, with some modest volatility as reflected in underwriting losses in 2021 and 2023. The limited business profile reflects the company's geographic concentration in Pennsylvania and focus on commercial property business. The company is part of the ERM program employed by Tuscarora Wayne Companies and is considered appropriate for the company's risk profile. The positive outlooks reflect the expected product and geographic diversification the company will achieve via the implementation of a pooling agreement with Tuscarora Wayne Companies and ICC. The agreement is expected to be implemented by Jan. 1, 2026. The ratings of ICC reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The revised outlooks to positive from stable for ICC also contemplate the expected benefits of the forthcoming pooling agreement with its affiliated insurance companies. The pooling agreement will provide greater product diversification through additional commercial multiperil classes and lines of business, such as homeowners' and farmowners' coverages, while also improving the geographic reach of the company. ICC's very strong balance sheet strength is characterized by the strongest level of risk-adjusted capitalization, as measured by BCAR, underwriting and liquidity ratios that are comparable with the composite averages and generally consistent surplus growth. While loss reserve development has been unfavorable in recent periods, influenced by social and economic inflation, the impact has been effectively absorbed without significant drain on the balance sheet. This is reflected by adequate operating performance, which has yielded positive pre-tax operating and net income in each of the past 5 years, despite loss reserve development. The ERM program is considered appropriate for the company's risk profile. On March 13, 2025, ICCH was acquired by Mutual Capital Group, Inc. (the ultimate parent of Tuscarora Wayne Companies and Lebanon Valley). ICCH remains a subsidiary under common management with Mutual Capital Group's other subsidiaries. The prospective pooling agreement between the three rating units is expected to enhance the overall business and geographic diversification. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Daniel Mangano Senior Financial Analyst +1 908 882 1907 Maurice Thomas Senior Financial Analyst +1 908 882 2392 Christopher Draghi Director +1 908 882 1749 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Sign in to access your portfolio


Fast Company
12 minutes ago
- Fast Company
Is the electric Chevy Equinox the next Tesla Model Y?
General Motors, the largest automaker in the U.S., announced its second-quarter financial results on July 22. The report was, overall, a gloomy tale of the impact of President Trump's tariffs, which, the company said, cost it more than a billion dollars this past quarter. But while GM's total profits fell by more than a third in Q2, the company did point out one bright spot: a major spike in EV sales, launching it closer to true competition with Tesla. In its investor relations call, GM—which operates the subsidiary brands Buick, GMC, Chevrolet, and Cadillac—said its EV sales more than doubled from April to June. Meanwhile, early this month, Tesla reported a 13% decline in vehicle deliveries for its second quarter, one of the largest quarterly declines in the company's history and its second quarterly decline in a row. In its earnings call on July 24, the company reported its revenue was down more than $3 billion year-over-year (though the company also claimed a newer, cheaper version of the Model Y would soon be available). An analysis by the data collection firm Cox Automotive published on July 14 found that while Tesla still solidly holds the title of the U.S. EV market's largest mover, GM has charged past Ford and Hyundai to snag the No. 2 spot. With models like the Chevy Blazer and Chevy Equinox, the automaker is quietly encroaching on Tesla's dominant market spot. 2025 Blazer EV [Photo: Chevrolet] A tale of Tesla's (declining) dominance Tesla has long outpaced its competitors in the American EV market, but the gulf that once separated the brand from all others has been slowly closing over the past several years. Subscribe to the Design newsletter. The latest innovations in design brought to you every weekday Privacy Policy | Fast Company Newsletters In 2020, Tesla controlled nearly 80% of the U.S. market, based on data from Experian. By 2022, that was down to 65.4%, followed by 55% in 2023. This year, per Cox Automotive, that share continues to decline, hovering around 45% as of July 11. In a press release, Cox Automotive stated, 'Tesla's many issues do not require a full rehashing here: Suffice it to say, the hyper-competitive EV market is providing the troubled automaker no relief.' Part of Tesla's market share decline can certainly be attributed to the brand's laundry list of reputational blows this year, namely concerning CEO Elon Musk's ongoing feud with Trump. But as Cox Automotive hints, another factor is broadening competition: Since 2020, Ford, Honda, Hyundai, Kia, Lexus, and other automakers have introduced countless new EV models. GM, in particular, has been dedicating greater resources to its fleet of electric vehicles. The company now sells 12 different EV models across its four brands, which accounted for about 15% of the U.S. EV market in the second quarter of 2025—triple the share of both Ford and Hyundai. Of GM's EVs, its top-selling models were the Chevy Equinox and Chevy Blazer, which sold 17,420 units and 6,549 units, respectively. The Equinox has gained significant traction for its relatively low cost, which starts at around $35,000. These numbers are far behind those of Tesla's ultra-popular Model Y, which shipped 86,120 units in the second quarter. Still, Chevrolet's EV sales alone have shown 130%-plus year-over-year growth—signaling that GM may be on an upward trajectory compared to Tesla's current slump. GM CEO Mary Barra reinforced that trajectory on a July 22 earnings call, sharing that profitable EV sales are now the company's 'North Star.' advertisement 'We are growing in EVs because we have a strategic portfolio of vehicles that people love for their design, performance, range, and value,' she said. [Photo: Chevrolet] An uncertain path ahead Despite GM's major EV success of late, the new EV market saw an overall year-over-year decline. Stephanie Valdez Streaty, senior analyst at Cox Automotive, said in its press release that the lower sales 'underscore the market's ongoing challenges, as growth in the auto business ebbs and flows on consumer demand,' and are a sign of a more mature EV market. Used EV sales, on the other hand, quietly flourished, surpassing a record-breaking 100,000 units in the second quarter. 'With availability growing and incentives for new EVs expected to fall, the used EV market may grow faster in the quarters ahead,' Cox Automotive reported. For market analysts, the elephant in the room is Congress's recent approval of new spending legislation that will end tax credits on new or used EVs beginning September 30. In light of this change, several experts have predicted that EV sales are likely to see a spike in the interim, followed by a noticeable decline starting in October. Cox Automotive takes a slightly more conservative stance, predicting that new EV sales will continue to expand in the U.S. compared to last year, but at a much reduced pace. 'With government-backed incentives set to end in September and economic pressures mounting, the second half of the year will be a critical test of EV demand,' Valdez Streaty said. 'Q3 will likely be a record, followed by a collapse in Q4, as the electric vehicle market adjusts to its new reality.'
Yahoo
41 minutes ago
- Yahoo
AM Best Assigns Credit Ratings to HDI Global UK Limited
AMSTERDAM, July 24, 2025--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of "aa-" (Superior) to HDI Global UK Limited (HDI Global UK) (United Kingdom), an entity ultimately owned by HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect HDI Global UK's inclusion as a member of the lead rating unit of HDI V.a.G., which has a balance sheet strength that AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management. HDI Global UK is strategically important to HDI V.a.G. as its carrier for writing delegated authority business (retail and small and medium-sized enterprises, as well as liability, motor and high net worth business in the UK. HDI Global UK was established in 2024, as a UK-incorporated subsidiary of HDI Global SE. The company is identified easily as part of HDI V.a.G., carrying the same brand. Given the strategic importance of the company to HDI V.a.G., AM Best expects that sufficient support will be provided promptly by the HDI V.a.G. group, should it be needed. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Andrea Porta Senior Financial Analyst +31 20 808 1700 Angela Yeo Senior Director, Analytics +31 20 808 1712 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318