Insurance Information Institute publishes Issues Brief on escalating wildfire risk

The Insurance Information Institute (Triple-I) has announced the publication of a wildfire Issues Brief, highlighting the increasing fire risk across all regions of the United States. This announcement was made through a press release.

According to Triple-I, wildfire risk is intensifying nationwide, not limited to traditionally fire-prone areas. Sean Kevelighan, CEO of Triple-I, emphasized the importance of resilience, collaboration, and investment to safeguard communities from wildfires. The Issues Brief points out that property/casualty insurers are collaborating with stakeholders to predict and prevent devastating losses caused by wildfires.

The National Interagency Coordination Center (NICC) reported 64,897 wildfires in the U.S. in 2024, marking a significant increase from 56,580 in 2023. These fires consumed 8,924,884 acres, more than tripling the acreage burned in the previous year. Seven out of ten geographic areas experienced above-average wildfire activity, indicating a widespread escalation in wildfire threats.

Triple-I's Issues Brief noted that wildfires destroyed 4,552 structures nationwide in 2024. This includes 2,406 residences, 2,066 minor structures, and 80 commercial or mixed-use buildings. The Southern Area recorded the highest number of fires while the Northwest saw the most acreage burned. These figures highlight the growing impact of wildfires on both residential and commercial properties across the country.

The Insurance Information Institute was established in 1960 to provide data-driven insights for consumers, industry professionals, and policymakers about risk and insurance. As an affiliate of The Institutes, Triple-I represents insurers responsible for nearly half of U.S. property/casualty premiums and plays a key role in promoting awareness and resilience against natural and man-made hazards.