Episode Details

New Mexico is facing a wildfire-driven insurance crisis, with over 6,200 homeowner policies not renewed in 2025 — the highest ever — as insurers grow wary of escalating disaster risks. The state’s insurance regulator is digging into the data, focusing on hard-hit counties like Rio Arriba and Santa Fe. Though insurers took major losses after recent fires and were once profitable for a decade, none have fled the state. Premiums are rising, but modestly — projected at under 5% for 2025-2026, down from 15% in 2023. To help, the state’s pouring $10 million into fire-resistance upgrades and exploring discounts for homeowners who reduce wildfire risks — sometimes even reversing non-renewals.

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