Wildfire

FireLine Examines the Erskine Wildfire

he Erskine fire stands out as the most destructive California wildfire so far this year and ranks as the 15th most destructive in state history.

FireLine and the Fort McMurray Fire

As of this writing, firefighters are still battling the Fort McMurray fire in Western Canada, and authorities are restricting access to the area. The fire is a major incident, and Verisk’s Property Claim Services ® (P...

Sussing out Canadian risk

News spreads fast and far. Not long after Verisk Insurance Solutions began a dialogue with U.S. insurers about identifying perils, unreported incidents, and prior claims through data and analytics, we were contacted b...

Washington State Wildfires: Not a PCS Catastrophe Event

After investigating multiple July wildfire events in Washington State, PCS® has determined that insured losses will not meet the criteria for PCS catastrophe designation. Based on our investigation and conversations...

Wildfire Reports Point to a “Hot” Summer for the Western United States

The National Interagency Fire Center (NIFC) recently issued its North American Seasonal Fire Potential Outlook for the summer of 2014. For the entire season, NIFC projects much of California and parts of Arizona and N...

PCS Catastrophe Designation in Indemnity-Triggered Catastrophe Bonds

Indemnity-triggered catastrophe bonds are increasing in popularity, but it’s clear that the insurance-linked securities (ILS) community wants some degree of third-party validation in them. The number of sponsors using...

More Than 4.5 Million Households at High or Extreme Risk from Wildfire

In each of the past four years, wildfires destroyed hundreds of homes and cost insurers hundreds of millions of dollars in claims. Although California has the most households at high or extreme risk from wildfires and...

Wildland Fire Potential for Fall 2013

On September 1, 2013, the National Interagency Fire Center (NIFC) issued its National Significant Wildland Fire Potential Outlook for the remainder of 2013. The outlook provides an assessment of current weather and...

Take Wildfire Risk to the Capital Markets

The Yosemite wildfire is spreading, according to AIR Worldwide . As of August 26, 2013, it had affected 225 square miles and destroyed 23 buildings. Another 4,500 buildings are at risk. The wildfire is likely to raise...

AER and Verisk Underwriting Help Streamline Wildfire Recovery and Peril Risk Management

When a wildfire blazes, insurers immediately deploy catastrophe response teams to offer help and begin the recovery process for their policyholders.