Santa Barbara fire victims underinsured.

National Underwriter Property & Casualty-Risk & Benefits Management, August, 1990

Santa Barbara Fire Victims Underinsured Insurance companies are responding swiftly to the needs of Santa Barbara residents hit by a devastating arson blaze, but the spector of underinsurance may haunt fire victims and insurers alike, officials said. "We're finding in some cases that replacement cost coverage is less than should have been in effect," said Peter Georgi, president of the Independent Insurance Agents of Santa Barbara.

The June 27 fire, driven by fierce winds and fed by drought-parched brush, quickly swept through neighborhoods of expensive properties on the edge of Santa Barbara. More than 500 homes were lost, along with commercial buildings and apartments, and the total damage could exceed $500 million, said Mr. Georgi. (The Property...

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