Black Forest Fire

12:53am

Sun July 7, 2013
U.S.

Despite Hefty Payouts, Fire Insurance Costs Hold Steady

Originally published on Sun July 7, 2013 12:46 pm

Firefighter Brandie Smith walks by the remains of a structure destroyed in the Black Forest wildfire north of Colorado Springs last month. More than 500 homes have been lost to wildfire in the state this year.
Ed Andrieski AP

Wildfires have already destroyed hundreds of homes in the American West this year. The insurance industry is once again poised to pay out hundreds of millions of dollars to cover those losses, as it already has for homeowners who lost their houses during last year's fire season.

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