For decades, Verisk’s LOCATION® Public Protection Classification (PPC®) has been the gold standard in evaluating fire protection at the address level. It provides invaluable insights into the effectiveness of local fire services. But now, there’s a new score that promises to take fire risk assessment to the next level: the LOCATION® Property Protection Score (PPS™).
Building on the long-standing Fire Suppression Rating Schedule (FSRS), LOCATION PPS incorporates property-specific characteristics and details on the neighborhood infrastructure to provide the segmentation necessary for measuring fire protection.
Enter LOCATION PPS: Precision Redefined
Location PPS enhances fire protection scoring:
- Detailed Analysis: LOCATION PPS delves deep into specific factors affecting fire protection, such as:
- Drive time: Considers the drive time from the responding fire station to the property address.
- Property characteristics: Assesses unique characteristics of the property that impact the fire department's ability to provide protection.
- Increased granularity: For insurers, LOCATION PPS delivers the fine-tuned detail needed to support accurate rating and underwriting. This additional granularity is delivered in the LOCATION PPS 1–100 scoring scale, allowing for increased segmentation.
How Fire Departments and Communities Influence the Score
Fire departments and local communities play a key role in shaping Location PPS. Improvements in emergency communications, fire department resources, water supply, and community risk reduction efforts may impact LOCATION PPS for properties in their area. This encourages ongoing enhancements in fire protection and supports increased rating and underwriting accuracy.
Learn more about how LOCATION PPS can help create a book of business with lower expected severity, and better predict losses across the book. Download the white paper