AND SUSTAINABILITY DESIGN
Costar, a real estate data and analytics company reported “the most destructive wildfires in California history are expected to send insurance rates surging, adding another headwind for owners of multifamily properties in Los Angeles and potentially hindering affordable housing goals.”
The report notes that The American
Property Casualty Insurance Association has lobbied Congress to pass more laws
to address wildfire risks—such as the Fix Our Forests Act that seeks to
increase the pace and scale of forest management and establishes a program to
better coordinate federal agencies to reduce wildfire damage to properties.
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