Inevitable
Why Wildfire Insurance is Broken—And How Stand is Fixing It
Feb 27, 2025
Dan Preston, co-founder and CEO of Stand, a startup insurer focused on climate-exposed properties, shares insights on transforming wildfire insurance. He discusses how traditional insurance models fail to address wildfire risks effectively. Stand's innovative approach uses technology to assess individual property risks and empower homeowners to enhance resilience. Dan also emphasizes the role of private firefighters and community efforts in managing fire-prone areas. This fresh perspective aims to make insurance more accessible and affordable for high-value homes in California.
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Quick takeaways
- Stand's innovative approach to wildfire insurance focuses on assessing individual property risks and implementing proactive risk mitigation strategies for homeowners.
- The podcast emphasizes the growing challenges in the insurance market due to climate change, highlighting the need for collective resilience within fire-prone communities.
Deep dives
Innovative Insurance in a Changing Climate
Stand is a new startup focused on property insurance for homes exposed to climate risks, particularly wildfires in California. Their approach centers on assessing individual properties for fire risk and helping homeowners implement strategies to reduce this risk as part of the underwriting process. By leveraging advanced technology and data modeling, Stand aims to provide affordable insurance options for properties that would otherwise be uninsurable due to their fire vulnerability. This method not only protects homeowners but also addresses the broader issue of rising premiums and the exodus of traditional insurers from high-risk areas.
