Wildfire summit highlights insurance crisis in Napa Valley

The growing frequency and intensity of wildfires are stoking an insurance crisis in Napa Valley, as skyrocketing rates force wineries to turn to risk mitigation and self-insurance.

Wildfires such as the so-called Glass Fire Incident in 2020, which destroyed more than 1,500 structures and razed more than 67,000 acres, have led to commercial property owners and homeowners facing non-renewals or tremendous rate increases.

This crisis served as the backdrop of a wildfire resiliency summit held in Napa Valley last month.

The two-day conference gathered representatives from top insurers and reinsurers, winery owners, wildfire experts, and businesses and other members of the Napa Valley community, to tackle wildfire threats and help restore insurability to the region.

“Wineries are the lifeblood of Napa Valley,” said Louis Reynaud (pictured), senior vice president and climate risk resiliency practice leader at Galway Strategic Solutions.