Because experts predict above-normal wildfire risk this year, the Washington State Department of Financial Institutions (DFI) has issued guidance to provide additional information on wildfire risks and to emphasize the importance of DFI-regulated institutions recognizing and managing their financial and operational exposure.
The advisory underscores that wildfire threats are expanding into new regions and can result in major recovery costs, business disruptions, and infrastructure damage.
This guidance encourages institutions to understand the wildfire vulnerabilities specific to their communities and portfolios.