Wildfires have created instability within risk transfer markets. Here’s a path forward

Wildland–urban (WU) fires can devastate lives and communities, overwhelm emergency response efforts, and exhaust sheltering and recovery resources. Rapid fire spread into communities accounted for 78% of structure loss over 2001–2020, and rates of structure loss from such wildfires increased by 160% from 2010 to 2020 over the prior decade (1, 2). These fires carry enormous societal costs, including mortality, morbidity, loss of critical infrastructure and services, home destruction, and loss of insurance coverage (3, 4).

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