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Wildfire Mitigation and Lawsuits Impact Utility Policies
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Hawaiian Electric Industries is discussing a new policy to de-energize power lines as a preventive measure to mitigate wildfire risks, alongside other steps. RLI Insurance recorded significant losses from a Maui wildfire but expects no major impact on its reinsurance renewal process. Hawaiian Electric's CEO defended decisions made before a Maui wildfire at a US House hearing, stressing the need for reevaluating protocols. Two lawsuits have been filed against Inland Power and Light Companys electrical equipment for the Gray fire in eastern Washington. Economists warn that Lahaina locals may be priced out of rebuilt town due to zoning changes and soaring housing prices.
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How might the economic implications of the wildfire in Lahaina, including soaring housing prices and potential zoning changes, affect the overall economy and tourism industry in Hawaii?
How might the implementation of de-energizing power lines as a preventive measure impact the utility industry's approach to wildfire risk management?
What are the potential implications of the lawsuits against Inland Power and Light Companys electrical equipment for the utility industry's risk management strategies?
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