Kipper Burke Warns that Large Texas Wildfires Will Result in a "Hefty Amount of Uninsured Losses"

Christopher "Kipper" Burke was quoted in Law360 Insurance Authority, discussing the insurance coverage challenges posed by the latest series of Texas wildfires – currently among the largest wildfires in the United States, having burnt over 1.1 million acres.

Since the wildfires have especially affected the agricultural industry, policyholders are unlikely to receive much coverage from traditional insurance, Burke said. Instead, he predicted policyholders will experience "a fairly hefty amount of uninsured losses."

Burke added:

"The federally-backed, multi-peril crop insurance doesn't cover fire, so a lot of people won't have coverage for crops, and then a lot of people don't cover their livestock separately, which they either need to endorse on a policy, or purchase separate coverage."

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"Texas Wildfires Strike Underinsured Agricultural Sector" was published by Law360 Insurance Authority on March 7, 2024.