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LCCO General Meeting December 7, 2017

Meeting Announcement

Date: December 7, 2017

Time: 7 pm 

Where: Lost Creek Limited District Building, 1305 Quaker Ridge, Austin, TX 78746

Topics:   Wildfires and Home Owner's Insurance, Rob Galbraith, Property Underwriting, Property & Casualty Insurance Group, USAA, and CodeNEXT and Our Position on Its Future

To join the LCCO web site, click here.

Wildfires and Home Owner Insurance
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The risk of wildfires damaging homes is becoming a consideration for insurance companies. Some are refusing to write policies in high risk areas. Others are increasing their rates. And, a few a reducing their rates if the community takes actions to reduce risk.

  • Austin is ranked third by National Underwriter Property and Casualty with almost 36,000 homes at high risk and a property reconstruction value of $9B.
  • All of Lost Creek is considered to be in the WUI (Wildland Urban Interface). Moreover,  Lost Creek has 318 homes directly in the WUI, adjacent to the wildland, or 25% of it's 1,250 homes. The face of the WUI is 6.5 miles long.
  • According to Headwaters Economics: "Wildfires are getting larger and causing more damage. The six worst fire seasons since 1960 have occurred since 2000. Bigger wildfires are generally the result of two factors. First, biomass fuels have risen, due to historic management practices—overgrazing that reduced grass cover and encouraged seedling growth; logging of the large pines that led to a less fire-tolerant understory; and aggressive fire suppression that eliminated the natural, low-intensity fires which reduced biomass levels. The other factor is changing climatic conditions—higher temperatures, widespread drought, earlier snowmelt and spring growth, and expanded insect and disease infestations.
  • Bankrate reports that: Wildfires spark home insurance preconditions, Insurers want homes to be more fire-smart, Insurers have support from fire authorities, and with the right action, discounts possible.
  • The Los Angeles Times has reported: As fire danger grows, some homeowners are seeing coverage dropped
  • Reuters reports: Wildfires push Californians to high-risk insurance market
  • The New York Times reported: This year has seen an explosion of wildfires that have set records for death and destruction from California to Kansas. As the smoke continues to clear from the deadly flames that swept across parts of California’s wine country, history and the reality on the ground suggest the threat will grow only worse, not only for California, the most fire-prone state, but throughout the West.
CodeNEXT and Our Position on Its Future
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CodeNEXT is entering its final stages of development, review and approval. There are three dates you need to know now:

  • CodeNEXT Draft 3 - February 12, 2018
  • Austin City Council First Reading - April
  • Austin City Council Vote - April

CodeNEXT will affect Lost Creek as well as the future of the city of Austin.

As residents of Lost Creek we should be concerned and take a position relative to its direct impacts on Lost'Creek's future. As citizens of Austin we should be concerned about how its going to shape Austin's future. Is it the type of city we want to live in?

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