Mitigating Losses When Disaster Strikes: How Casualty Provisions Help Protect Tenants and Landlords
Published: February 13, 2025
It has now been just over a month since multiple wildfires erupted throughout the Greater Los Angeles area, bringing widespread devastation to the highly populated area in an event that could end up being the costliest disaster in U.S. history. For Californians, it was yet another example of the growing threat of fire destruction throughout the State. Almost all of us seem to know someone who has directly suffered damage from fires – one of our partners lost her home in the Palisades fire – and we will all bear the cost, from higher insurance premiums, increased construction costs for material shortages and/or new fire-safe building materials, and growing frustration at our apparent inability to properly confront the recurring danger. New approaches are needed to contain the spread of fire risk (pun intended).